• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

The stock plunged below our short-term trend deciding point of Rs 2,250 last Monday. But the medium-term outlook will stay positive as long as it stays above Rs 2,100. A fall below Rs 2,100 can take the price to Rs 1,950. The resistance for this stock next week would be at Rs 2,250. A bearish engulfing candle and an expanding triangle formation in the weekly chart, and lack of strength in weekly momentum indicators point towards the need for caution in this stock. Hold with a stop at Rs 2,100.

Lokeshwarri S. K.

More Stories on : Technical Analysis | Stock Markets

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Figuring out the trends

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line