Financial Daily from THE HINDU group of publications
Sunday, Jan 29, 2006
Financial Daily from THE HINDU group of publications Sunday, Jan 29, 2006 |
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Investment World
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Technical Analysis Markets - Stock Markets Focus of the week B. Krishnakumar
Orchid Chemicals (Rs 263): The share price has been on an upward trend since April 2003. This does not appear complete. The stock is likely to move to Rs 295-300 in the near-term. For investors willing to wait for at least a couple of months, there could be exit opportunities at Rs 340-345. The positive view would be in force till such time the stock holds above Rs 240. Remain invested with a stop-loss at Rs 240. Fresh exposures may also be considered at prevailing levels and on declines, with a stop-loss at Rs 240. Exposures may be enhanced on a close above Rs 268, with a close stop-loss in place. A close below Rs 240 will invalidate the positive outlook and warrant liquidation of holdings in the company. India Cements (Rs 122): The near-term outlook appears positive. The stock could move to the target zone of Rs 145-150. The bullish view would be valid as long as the stop-loss level at Rs 114 is not breached. Long-term investors may settle for a stop-loss at a relatively lower level at Rs 105. Short-term traders may consider long positions at prevailing levels and on weakness, with a stop-loss at Rs 113. Partial profit-booking may be considered on the evidence of resistance at the target zone.
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