• 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 made an intra week high of Rs 1,233 last Monday and then moved lower towards our medium term target of Rs 1099. The pattern established last week confirms our view that the medium term down trend that started from the high of Rs 1,378 is not yet complete.

There can be another short-term rally to Rs 1,226 or Rs 1,274. A reversal from the resistance zone between Rs 1,240 and Rs 1,250 will take the price down to Rs 1,094 and then Rs 1,028. Fresh longs should be initiated only on a close above Rs 1,250.

Lokeshwarri S. K.

More Stories on : Technical Analysis | Stock Markets

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

Stories in this Section
Limit your market losses

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