Sizzling Stocks - Lanco Infratech ; Provogue ::Business Line,

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Sizzling Stocks - Lanco Infratech (Rs 22.6)

Lanco Infratech powered ahead last week gaining 39 per cent. This stock has been decimated in the last two years as it plummeted from a peak of Rs 75 to Rs 8.6. The long-term support between Rs 8 and Rs 10 helped cushion declines in October 2008 as well as in January 2009. Long-term investors can therefore hold the stock with stop at Rs 8.

Near term hurdles for the stock will be at Rs 31 and then at Rs 45. Medium-term view will turn positive only if the stock moves above Rs 45. Inability to move beyond will result in the stock oscillating in the band between Rs 8 and Rs 45 over the upcoming months.

Subsequent hurdles will be at Rs 42 and Rs 50.

Provogue (Rs 33)

This stock was in vogue last week as traders flocked to this counter, pushing the stock price 25 per cent higher. The prospects were looking extremely bleak in December as it made a new life-time low at Rs 17. But a promising uptrend is currently in motion that has already made Provogue gain 94 per cent from its trough.

Near term resistance for the stock is at Rs 37. If this level is crossed, a rally to Rs 50 is possible. The stock will face a strong hurdle around Rs 50 and an inability to move beyond this will result in the stock turning tail and moving down to Rs 25 or Rs 17 again.