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| Query corner: Rajesh Exports
Kindly advise me on the prospects of Srei Infrastruture Finance and Rajesh Exports. Andal
Srei International (Rs 74.6): This stock was decimated in the crash last year as it was dragged from the peak of Rs 292 to Rs 24.
Though the stock is showing signs of stabilizing since April this year, it has to do a lot more work before it begins a sustainable up-trend.
Key short-term resistance for the stock is at Rs 90 and inability to move above this level will result in the stock fluctuating in the band between Rs 40 and Rs 90 for a few more months.
Firm close above Rs 90 will take the stock to the long-term resistance zone between Rs 120 and Rs 130. Investors with a long-term perspective can hold the stock with a stop at Rs 48.
Rajesh Exports (Rs 74.6): Rajesh Exports is currently struggling with the resistance around Rs 75. Failure to record a strong close beyond this level would imply that the stock can vacillate in the band between Rs 45 and Rs 85 for the medium-term.
Conversely, a strong weekly close above Rs 75 will take the stock to Rs 95 and then Rs 112. Investors can hold the stock with a stop at Rs 68.
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