The Hindu Business Line : Bullish outlook for Infosys

The outlook remains bullish and a move to the Rs 2,950-2,960 range appears likely. Hold with a stop-loss at Rs 2,660. Fresh exposures may be considered on weakness, with a stop-loss at Rs 2,660.

SBI (Rs 912): The price movement during the week was in line with expectations.

The upward move on Monday pushed the stock within the striking distance of the target zone of Rs 955-960. The outlook remains positive and the stock could move to the Rs 1,050-1,100 range. A move to this range would materialise over the medium term. Taking into account the positive outlook, long positions may be considered on weakness. Stop-loss for long positions may be placed at Rs 860.

Long-term holders may settle for a stop-loss at Rs 800.

Reliance Ind (Rs 840): The stock moved in sync with last week's expectations. After a rally to the target zone of the Rs 855-860 range, the stock turned weak and also tested the support zone of Rs 825-830 mentioned last week.

Remain invested with a stop-loss at Rs 830. The medium-term trend is positive and a move to the Rs 910-920 range appears likely. Investors may include the stock in their portfolio on price weakness. The positive outlook would be invalidated on a close below Rs 770.

Tata Steel (Rs 357): The stock managed to hold ground and stayed above the stop-loss level at Rs 335. The short-term outlook is positive and a move to the Rs 395-400 range appears likely. A close above Rs 362 would confirm the positive outlook while a close below Rs 340 would negate it. Investors may hold with a stop-loss at Rs 335. Fresh exposures may be considered on weakness, with a stop-loss at Rs 335. Exposures may be enhanced on a close above Rs 362, with a stop-loss at Rs 345.

Satyam Computer (Rs 660): After moving closer to the target zone of Rs 690-700, the stock turned weak on Wednesday. The near-term outlook appears bearish and a drop to the Rs 625-630 range appears likely. Hold with a stop-loss at Rs 620. Fresh exposures may be avoided. Only a close above Rs 680 would impart bullish trend. Long-term investors may take exposures at lower levels, with a stop-loss at Rs 620.

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Su-Raj Diamonds (Rs 62): After a sharp upward move on Monday, the stock ruled weak in the remaining days of the week.

The price action during the week has not negated the view of a rally to Rs 72-75 range. The positive outlook would be in force as long as the stock holds above Rs 50. Long-term holders may settle for a stop-loss at Rs 50.

From a trading perspective, long positions may be considered at prevailing levels as well as on declines, with a stop-loss at Rs 57. Partial profit-booking may be considered on a move to the target zone. A trailing stop-loss may also be employed in the event of a sustained rally past Rs 75.

SRF (Rs 289): After a bearish trend in the early part of the week, the stock staged a recovery in the last couple of trading sessions. As observed last week, the near-term trend is positive and a move to the Rs 325-330 range appears likely.

The positive outlook would be valid as long as the share price trades above Rs 260. A close below Rs 260 would be an early sign of weakness and a drop below Rs 250 would almost negate the positive outlook. Hold with a stop-loss at Rs 260.

Fresh exposures may also be considered on weakness with a stop-loss at Rs 260.

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