Financial Daily from THE HINDU group of publications
Sunday, Mar 19, 2006
Financial Daily from THE HINDU group of publications Sunday, Mar 19, 2006 |
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Investment World
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Technical Analysis Markets - Stock Markets Orchid Chemicals (Rs 355) B. Krishnakumar
Taking into account the recent upward move, it would be advisable to push the stop-loss to Rs 330. Investors may hold with a stop-loss at Rs 330. Fresh exposures may also be considered on weakness, with a stop-loss at Rs 330. Investors who have entered at fairly lower levels and who are willing to take risk, may settle for a stop-loss of Rs 315. Wipro (Rs 521)
The price action was not quite in line with expectations. Contrary to the anticipated upward move, the stock remained stuck in a trading range. Except for a sharp upward move on Monday, the price action was devoid of any momentum in the remaining days of the week. The recent price pattern has not, however, negated the earlier positive outlook. The stock appears to be headed towards the target zone of Rs 575-580. As observed last week, long-term investors may get to exit at Rs 635-640. The positive outlook would be in force as long as the stop-loss at Rs 485 is not breached. Remain invested with a stop-loss at Rs 485. Fresh exposures may also be considered on declines with the same stop-loss.
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