Financial Daily from THE HINDU group of publications
Sunday, Apr 30, 2006
Financial Daily from THE HINDU group of publications Sunday, Apr 30, 2006 |
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Investment World
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Technical Analysis Markets - Recommendation
Praj Industries The price movement was in line with expectations. The stock ruled firm and also moved to the target zone of Rs 185-190 mentioned last week. The outlook for stock remains positive and a move to the next target zone of Rs 220-225 appears likely. Remain invested with a stop-loss at Rs 155. Fresh exposures may be considered at prevailing levels as well as on declines, with the same stop-loss. Investors who have already entered at lower levels may settle for a stop- loss at Rs 140. Ranbaxy Labs
Contrary to expectations, a bearish trend prevailed during the week. The recent price pattern has not, however, negated the long-term positive outlook for the stock. The stock appears on course to move the immediate target zone at Rs 550-560. A close past Rs 560 would help the stock move to the long-term target zone of Rs 850-900. As observed last week, the positive view would be negated on a close below Rs 420. Stop-loss for existing holdings may be placed at Rs 450. Fresh exposures may also be considered at prevailing levels as well as on declines, with a stop-loss at Rs 450.
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