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B. Krishnakumar

Great Eastern Shipping (Rs 153.5): After topping out at Rs 199.4 in November 2004, the stock has been in a corrective phase.

This corrective phase does not appear complete. The near-term outlook is bearish and a drop to Rs 135-140 range appears likely. Existing holders may look for opportunities to reduce exposures. Fresh buying with a close stop-loss may be considered if the stock seeks support at Rs 135-140 range.

Andhra Bank (Rs 104.5): The near-term outlook is bearish and a drop to Rs 94-95 range appears likely. Shareholders may sell a portion of their holding at prevailing levels and consider fresh exposures on the evidence of support at around Rs 92-93 range. A drop below Rs 90 would impart further weakness. Hold with a stop-loss at Rs 95.

Follow up

Apollo Hospitals (Rs 331): The price movement was devoid of any trend. The stock was confined to a trading zone. It has, however, managed to hold above the stop-loss level of Rs 315. Remain invested with a stop-loss at Rs 315. Fresh exposures may be considered on intermittent price weakness, with a stop-loss at Rs 315. Last week's view of a rally to Rs 385-395 range is still valid.

Mangalam Cement (Rs 70.6): The stock moved in line with expectations. It dropped to the target zone of Rs 70-72 that was mentioned last week. Remain invested with a stop-loss at Rs 65 as the stock could stage a recovery shortly. Fresh buying may be considered on the evidence of support at the Rs 65-66 band.

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