Business Daily from THE HINDU group of publications
Sunday, Feb 24, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Sunday, Feb 24, 2008 ePaper | Mobile/PDA Version |
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Investment World
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Technical Analysis Markets - Stock Markets 
Tata Steel moved lower after two unsuccessful attempts to move above Rs 850 in the first two sessions last week. The pullback rally that began at the Rs 557-trough could have terminated last week. The stock is now likely to move lower towards Rs 740 or Rs 700. Negative divergence in the daily oscillator chart corroborates this view. The 200-day moving average present at Rs 700 will be a key support next week. Move below this level will signify the onset of an intermediate term down trend that can pull the stock lower toward Rs 560 once again. Resistance levels for the week are at Rs 850 and then Rs 900. More Stories on : Technical Analysis | Stock Markets
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