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B. Krishnakumar

Ispat Industries (Rs 28.2): The outlook for the stock is bullish.

There has been a precipitous drop in volatility. This typically is a precursor to a sharp move. Taking into account the recent price pattern, it appears that the stock could see an upward spike shortly. A move to the target zone of Rs 33-34 range appears likely.

The positive outlook would be in force as long as the stock holds above Rs 24. Long positions may be considered on price weakness with a stop-loss at Rs 24. Exposures may be enhanced on a move above Rs 30. Investors who have entered at lower levels may consider partial profit-booking or tightening of stop-loss once the stock moves to Rs 29.6-30 range.

Fresh buying may also be considered if the stock reverses at Rs 29.6-30 range and seeks support subsequently at Rs 28-28.3 range.

Dhampur Sugar (Rs 145.5): After a sharp upward move, the stock has been in a corrective phase in the recent weeks. The downward move does not appear complete.

A drop to Rs 135-138 range appears likely. The share price is likely to resume the long-term bullish trend on completion of the expected short-term downward move.

The next target for the stock is at Rs 160-165 range. Shareholders may remain invested with a stop-loss at Rs 130. Fresh buying may be considered on price weakness with stop-loss at Rs 130. Long positions may be diluted on a move to Rs 160-165 range.

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