• 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

Bharti took a breather last week, passing the baton of leading the markets to other pivotals. The resistance band between Rs 880 and Rs 900 mentioned last week, is proving to be a short-term impediment to the stock. But the short-term trend in the stock is up and this sideways move could be followed by another shy at its record peak at Rs 960.

Short-term investors can buy the stock with a stop at Rs 800. However, fresh longs should be avoided if the stock falls below Rs 800. It would then imply that the third leg of the correction from Rs 960 is on which can drag the stock down to Rs 760 again.

More Stories on : Technical Analysis | Stock Markets

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

Stories in this Section
When stocks get ‘re-’ or ‘de-rated’

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