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B. Krishnakumar

Cipla (Rs 257.2): The stock appears to be in the final stages of the recent downward move. After a drop to Rs 238-242 range, the stock is likely to stage a recovery.

Hold with a stop loss at Rs 253 and fresh exposures (with a suitable stop loss) may be considered on evidence of support at around Rs 238-242 range.

Mahavir Spinning (Rs 287.3): The stock appears to be headed towards the Rs 325-330 range. Hold with a stop loss at Rs 271. Fresh purchases may also be considered on price weakness with a stop loss at Rs 271.

Exposures may be enhanced on a move past Rs 295 as this would trigger a "buy" signal. Stop loss may be placed at Rs 285 for long positions taken after the breach of Rs 295.

Bank of Rajasthan (Rs 69.2): The anticipated bullish move failed to materialise and the stock was confined to a narrow trading range. Investors who took fresh exposures last week may place the stop loss at Rs 65.

Shareholders who have entered at prices lower than Rs 65 may have the stop loss at Rs 57. Fresh buying may be considered on a close above Rs 72, with a stop loss at Rs 65.

Jindal Saw (Rs 274.3): The stock ruled weak during the week gone by. This has not negated the positive view expressed last week. The expected rally to the Rs 320-325 range would be valid as long as the stock holds above Rs 258. Long positions may also be considered on price weakness with a stop loss at Rs 258. The positive outlook would be negated if the stock closes below Rs 240.

Note: Opinion and price targets are based on Elliot Wave Analysis. The stop-loss level provided with the recommendation is important; the original view would be negated if this level were breached. There is risk of loss in trading.

Note: The full complement of "Tech Trail" columns, including "Q & A", will be resumed from next week. Due to technical reasons, we are unable to publish them this week.

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