Micro Technicals

Amara Raja

Current Price: Rs 96.5

Target Price: Rs 110

The stock has broken out of a bullish saucer formation with a strong rise in volumes. Given a bottom at Rs 70 and a breakout from around Rs 90, we can expect a target of Rs 110. A stop-loss at around Rs 85-90 is necessary and beware the high diurnal variation of this stock which makes mechanical trading dangerous. There is a possibility of the target overshooting up to Rs 120 because of the same high daily range factor.

GE Shipping

Current Price: Rs 40

Target Price: Rs 46

The stock has shot up over the last fortnight, -- and on high volumes too -- from a recent bottom of Rs 29 to the current price of Rs 40. It is difficult to project targets from the daily charts, although the rising trend line around 60 degrees is a critical support. The weekly and monthly charts suggest that the stock could run into strong resistance around Rs 46-48. Keep a stop-loss around Rs 33.

LML

Current Price: Rs 43.85

Target price: Rs 51

The stock has broken out into a bull run very late, when compared with fellow two-wheeler stocks like Bajaj, Hero Honda and TVS. It moved out of a bullish saucer formation on high volumes this week.

It has a short-term target of around Rs 51, where there will be strong resistance. There could be a long-term target of around Rs 70-75. Support should be available along a rising trend line of 45 even if the momentum upwards slows (current slope is around 60 degrees).

Sesa Goa

Current Price: Rs 110

Target Price: Rs 130

A huge rise in volumes accompanied a sharp reversal in the long-term price trend of this stock. The long-term now looks strongly positive. So does the short-term trend. There is a formation target of around 150, but strong resistance is also likely to show up around Rs 130-135. We could expect an uninterrupted rise to around Rs 130 levels, which could then be followed by selling pressure. Keep a stop-loss around Rs 90.

Mastek

Current Price: Rs 293

Target Price: Rs 257

There has been strong selling pressure in the past 3-4 sessions. This decline comes from the top of a wide trading range between Rs 257 and Rs 335. There is a very good chance that the selling pressure will continue until the support at Rs 257 is hit. If conditions become extremely bearish, it is possible that the stock will fall to Rs 247. Keep a stop-loss above Rs 317.

(The target prices and projected movements given above are in terms of the next five trading sessions unless otherwise stated.)