Financial Daily from THE HINDU group of publications
Sunday, Dec 04, 2005
Financial Daily from THE HINDU group of publications Sunday, Dec 04, 2005 |
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Investment World
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Technical Analysis Markets - Stock Markets Focus of the week B. Krishnakumar
Kotak Mahindra Bank (Rs 228): The share price has been in a major uptrend in the recent years. There appears to be significant upside potential from prevailing levels. After passing through a brief corrective phase, the stock resumed the next leg of the upward move at the recent low of Rs 165. The stock appears to be headed towards the next target zone at Rs 265-270. ong-term investors may hold with a stop-loss at Rs 160. Investors who find this stop-loss too wide for comfort may settle for Rs 190. Fresh exposures may also be considered with a stop-loss at Rs 190. Price weakness may be used to take enhance holdings. Orchid Chemicals (Rs 221.2): The share price has bounced off a key support level at Rs 185 recently. This has lent credibility to the long-term positive outlook. The stock is likely to move to the immediate target zone at the Rs 260-270 range. Remain invested with a stop-loss at Rs 180. Investors may include the stock in the portfolio on price weakness, with a stop-loss at Rs 180. Exposures may be enhanced on a close above Rs 230 as this would confirm the positive outlook. On the other hand, a close below Rs 180 would have major bearish implications.
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