The Hindu Business Line : Follow-up

The price movement was not quite in line with expectations. The stock ruled weak and also closed below the stop-loss level of Rs 450 on Wednesday. The break, however, turned out to be temporary and the share price bounced back immediately in the last couple of days.

The recent price pattern has not negated the positive outlook. The stock appears to be on course to move to the short-term target zone at Rs 510-520. Investors willing to wait for a relatively longer time frame may get exit opportunities at Rs 590-600. Long-term investors may settle for a stop-loss of Rs 445. Fresh exposures may be considered on weakness, with a stop-loss at Rs 445. Exposures may be enhanced on a close above Rs 486, with a stop-loss at Rs 459.

CESC (Rs 343)

After a sideways price pattern in the early part of the week, there were signs of positive momentum on Friday. There is no change in the view expressed last week. The near-term outlook remains positive and a move to Rs 375-380 appears likely.

Investors willing to wait for a longer time period may find an exit avenue at Rs 450-460. The positive outlook would be negated on a close below Rs 307. Investors may hold with a stop-loss at this level. Fresh exposures may also be considered at prevailing levels as well as on declines, with the same stop-loss.

B. Krishnakumar

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