• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

India Cements (Rs 165.3)

The stock has been in a major uptrend in the recent years. There appears to be significant upside potential from prevailing levels. The stock has been in a corrective phase after moving to a high of Rs 173 in early March. This corrective phase appears to have been completed last week.

The upward move on Friday appears to be the start of the next leg of the rally.

The stock appears to be headed towards the immediate target zone at Rs 205-210.

Remain invested with a stop-loss at Rs 142. Fresh exposures may be considered at prevailing levels as well as on a drop to the support zone at Rs.152-Rs.155 range.

Stop-loss for fresh exposures may also be placed at the same level.

A close below Rs 142 would impart short-term weakness. It would not negate the long-term positive view.

KCP Sugar

(Rs 74.9)

The recent market fancy for the sugar sector stocks has imparted a bullish trend in this stock as well.

The recent price patterns indicate that the stock has commenced a fresh leg of an upward move on Tuesday. The sharp recovery in the past few days confirms the onset of a fresh upward move.

The stock could move to the immediate target zone at Rs 88-90. Investors willing to wait for a while may find opportunities to exit at Rs 112-115.

The positive outlook would be in force as long as the stock holds above the stop-loss level at Rs 66.

Hold with a stop-loss at this level. Fresh exposures may also be considered with the same stop-loss.

Evidence of support at Rs 70-72 may be used to enhance exposures.

(Note: The analysis and opinion expressed in these columns are based on the technical analysis of the past price behaviour. Opinion and price targets are based on the Elliott Wave Analysis. The stop-loss level provided with the recommendation is important. The original view would stand negated if the stop-loss level is breached. There is a risk of loss in trading)

B. Krishnakumar

More Stories on : Technical Analysis | Stock Markets

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

Stories in this Section
Investment Quiz

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line