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B. Krishnakumar

Apollo Hospitals (Rs 343.8): The outlook for the stock is bullish. After a sharp upward move, the stock has been in a corrective phase over the recent months. The price action over the past few days indicates that the stock has completed the corrective phase. Long positions may be considered with a stop-loss at Rs 315. A drop below Rs 315 could result in a drop to Rs 295-300.

As the long-term outlook remains bullish, existing shareholders may hold with a stop-loss at a lower level of Rs 295. Though this stop-loss is wide in relation to the market price, the risk may be justified as the stock has significant upside potential. A move to the Rs 385-395 range appears likely in the near term. Investors taking fresh exposures may place the stop-loss at Rs 315 while those who have already entered at lower levels may place the stop at Rs 295. If the stop-loss at Rs 315 gets triggered, fresh exposures may be considered on evidence of support at around the Rs 290-295 range.

Mangalam Cement (Rs 79.6): After a sharp upward move, the stock has been ruling weak in the past few weeks. This appears to be a correction to the earlier rally. The corrective phase does not appear complete. A drop to the Rs 70-72 range appears likely.

Shareholders may reduce exposures. Fresh buying may be considered on the evidence of support at the Rs 66-70 band. The near-term bearish view would be negated if the stock closes above Rs 86.

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