The Hindu Business Line : Outlook is positive for SBI

The price action was in line with expectations. A bullish trend prevailed and the stock moved to the first target zone at Rs 920-930. The outlook remains bullish and a move to Rs 1,100-1,150 appears likely. The next short-term target is at Rs 950-960. Fresh exposures may be considered in the Rs 910-915 range; stop-loss is Rs 900. The long-term positive outlook will be valid as long as the stock holds above Rs 848.

Reliance

The build-up of momentum over the past couple of days is a pointer that the stock could see a steady upward move.

The short-term outlook is positive and a move to Rs 750-760 appears likely. Remain invested with a stop-loss at Rs 700.

Fresh exposures may also be considered in the Rs 705-710 band, with the same stop-loss. There will be exit opportunities at Rs 795-800.

Tata Steel

As observed in the earlier weeks, the long-term outlook is positive and the stock could move to Rs 525-550. The stock went into a corrective phase after hitting the target zone at Rs 468-475 last week.

The correction appears complete and the stock appears to be headed to Rs 480-485 in the near term. Hold with a stop-loss at Rs 440. Fresh exposures may also be considered with the same stop-loss.

Satyam

After a bearish trend that prevailed in the early part of the week, the stock staged a sharp recovery on Friday.

The share price appears on course to move to the target zone of Rs 835-840. A move past Rs 840 would help the stock move to the next target zone at Rs 875-880. Hold with a stop-loss at Rs 765. Fresh exposures may be considered in the support zone at Rs 775-780, with a stop-loss at Rs 765.

Infosys

Though a bearish trend prevailed in the early part of the week, the stock did not drop to the support zone at Rs 2,700-2,710. The near-term trend appears positive. The stock appears on course to move to the target zone at Rs 3,050-3,100. Remain invested with a stop-loss at Rs 2,800. Fresh exposures may also be considered at Rs 2,820-2,830, with a stop-loss at Rs 2,800.

More Stories on : Technical Analysis | Stock Markets

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page