The Hindu Business Line : Positive outlook for key pivotals

This view would be suspect if the share price closes below the negative trigger level of Rs 800. Investors who have entered at relatively lower levels may settle for a stop-loss at Rs 800.

The rest may have the stop-loss at Rs 860. The price movement in the past few days indicates that the next leg of the upward move is underway. Fresh long positions may also be considered at prevailing levels with a stop-loss at Rs 860.

Reliance Ind (Rs 864): The stock ruled firm as anticipated last week. The recent price movement has lent credence to the view of a rally to Rs 910-920. The positive view would be in force as long as the Rs 810-level is not broken on the downside. Remain invested with a stop-loss at Rs 810. The stock is likely to get into a corrective phase if it fails to close past Rs 920. Evidence of resistance at Rs 910-920 would warrant dilution of holdings.

Tata Steel (Rs 356): Except for a sharp upward move on Friday, the trend remained bearish in the remaining four trading sessions. This has not negated the view of a rally to Rs 395-400. The positive view would warrant a reassessment only on a close below Rs 335. Investors may hold with a stop-loss at Rs 335. Fresh exposures may also be considered 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 673): After a zigzag price action in the early part of the week, the stock staged a strong recovery on Friday. A move past Rs 680 would trigger a "buy" signal in the Point and Figure chart. The stock could move subsequently to the target zone of Rs 715-720. Hold with a stop-loss at Rs 640. Long positions may also be considered with the same stop-loss.

Infosys (Rs 2,874): The stock ruled firm and appears to be moving towards the target zone of Rs 2,950-2,960. Hold with a stop-loss at Rs 2,690. Fresh exposures may be considered on weakness, with a stop-loss at Rs 2,690. At least partial profit-booking may be considered on the evidence of weakness at around Rs 2,950-2,960.

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Kotak Bank (Rs 237): The stock ruled firm as anticipated last week. After touching a high of Rs 252 on Thursday, it turned weak on Friday. As observed last week, the stock is in a major uptrend. Though the long-term trend is bullish, it would be intervened by corrections, which may be used to take long positions.

The stock appears to be on course to move to the target zone of Rs 265-270. Long-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 enhance holdings.

Orchid Chemicals (Rs 231): The price movement during the week has not negated the view expressed last week. The outlook remains positive and the share price is headed towards the immediate target zone at Rs 260-270.

The positive outlook would be valid as long as the Rs 180 level is not breached. Remain invested with a stop-loss at Rs 180. Investors may include the stock at prevailing levels as it has moved past the positive trigger level of Rs 230. Partial profit- booking may be considered on the evidence of resistance at the target zone of Rs 260-270. A trailing stop-loss may also be used in the event of a move past this target zone.

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