• 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

RIL put up a resilient show last week and was largely instrumental in preventing a deeper gash in the markets. The Diwali day fireworks made the stock sky-rocket past our medium-term target of Rs 3,030.

However, we will have to ignore this move as a freak trade. If the stock holds above Rs 2,600 next week, it would denote that the stock can rally to Rs 3,071 in the medium term.

The positive outlook will be negated if the stock falls below Rs 2,565. It would then head for the support at Rs 2,430. Traders can buy the stock with a stop at Rs 2,550. Investors can hold with a stop at Rs 2,380.

— Lokeshwarri S. K.

More Stories on : Technical Analysis | Stock Markets

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

Stories in this Section
Mount Everest: Sell in the market

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