Date:24/04/2005 URL: http://www.thehindubusinessline.com/bline/iw/2005/04/24/stories/2005042401300700.htm

Back Focus of the week

Jindal Saw (Rs 316.1): The stock has moved to the earlier mentioned (edition dated February 20) target zone of Rs 320-325 range. After touching a high of Rs 322.45, the stock closed slightly lower at Rs 316.1 on Friday. The long-term trend remains bullish and a move to the Rs 355-360 range appears likely.

After a short-term correction, the share price is likely to move to the target zone of Rs 355-360. Shareholders may remain invested with a stop-loss at Rs 285.

Fresh exposures may be considered on price weakness, with a stop-loss at Rs 293.

A close below Rs 293 would blunt the positive outlook while a drop below Rs 262 would impart bearish trend.

Mahavir Spinning (Rs 324.1): The stock appears to be bracing for an explosive move on the upside. It has been in a consolidation phase in the past few days.

A close above Rs 330 would confirm the positive outlook and would push the stock to the first target zone of Rs 348-352.

Investors willing to wait for a relatively longer time frame may find opportunity to exit at Rs 395-400 range. Remain invested with a stop-loss at Rs 300.

Fresh exposures may also be considered on price weakness, with a stop-loss at Rs 300. Exposures may be enhanced on a close above Rs 330. Stop-loss may be placed at Rs 310 for exposures taken after the stock moves past Rs 330.