Trading recommendations - March 14, 2004

Tata Power - We had advocated a flag formation on this scrip vide our special update during the week, where a stop loss at the 380 levels was specified. The scrip has turned higher from the 381 levels and closed 4 % higher. The stock is a strong market out-performer and we recommend a buy.  

Your call of action - 

• Investors / cash segment players - Buy the stock at current levels and hold with a stop loss at the 378 levels in small lots. Expect profit taking at the 415 - 420 levels in the absolute near term. In the medium term, we expect the 445 - 450 levels to be a firm possibility.

• Aggressive F&O traders - Buy the April contracts above the 390 mark and maintain a stop loss at the 380 levels. Profit taking maybe initiated above the 410 - 412 levels. Patient traders can await much more improved levels also.

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