Financial Daily from THE HINDU group of publications
Sunday, Feb 26, 2006
Financial Daily from THE HINDU group of publications Sunday, Feb 26, 2006 |
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Investment World
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Technical Analysis Markets - Stock Markets Chart Focus B. Krishnakumar
Titan Industries
The stock was one of the star performers in 2005. After moving to a high of Rs 863 in December, the stock has been in a corrective phase over the past couple of months. This phase appears to have been completed at the low of Rs 665 recorded a few weeks ago. If this assessment is valid, the stock could move to the target zone of Rs 1,050-1,100. The positive outlook would be invalidated on a close below the stop-loss level at Rs 750. Though a close below Rs 750 would delay the progress towards the target zone, it would not negate the possibility of such an outcome. Remain invested with a stop-loss at Rs 750. Fresh exposures may be considered at Rs 785-790 range, with the same stop-loss.
Arvind Mills
The stock has been on a major downward trend since January 2005, which appears to have been completed at the latest low of Rs 89. The stock appears to have commenced the next leg of the upward move. The near-term outlook is positive and a move to Rs 112-115 appears likely. A close above Rs 115 would help the stock seek Rs 125-130. Remain invested with a stop-loss at Rs 89. Fresh exposures may be considered at prevailing levels as well as on declines, with a stop-loss at Rs 89.
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