Financial Daily from THE HINDU group of publications
Monday, Jan 16, 2006
Financial Daily from THE HINDU group of publications Monday, Jan 16, 2006 |
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Investment World
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Technical Analysis Markets - Stock Markets Focus of the week B. Krishnakumar
Mirza Tanners (Rs 168): After having topped at Rs 246 in March 2005, the stock has been in a major corrective phase. The stock touched a low of Rs 152 recently and has staged a recovery since then. The recent rally appears to be the start of a new segment of an upward move. A move to Rs 195-200 appears likely. The positive view would be valid as long as the stock holds above the stop-loss at Rs 149. Remain invested with a stop-loss at the same level. Fresh exposures may also be considered at prevailing levels and on weakness with the same stop-loss. Reduce exposures on a close below Rs 149. CESC (Rs 252): After being confined to a trading zone of about Rs 60-70, the stock appears to have commenced the next segment of the upward move. The near-term outlook appears positive and the stock could move to Rs 300-305. The positive view would be in force till such time the stock trades above Rs 234. Shareholders may hold with a stop-loss at Rs 234. Fresh exposures may be considered at prevailing levels as well as on declines, with the same stop-loss. Book partial profit on the evidence of resistance at the target zone of Rs 300-305.
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