• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

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

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

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

Unitech moved conclusively below the key long-term support at Rs 200 last week. Needless to add, that the long-term view has now turned negative. The 14-month relative strength index is at 45 and the monthly MACD oscillator is signalling a sell implying that the current decline is yet to run its course. A decline to the 2007 trough at Rs 160 appears imminent now. Long-term investors can watch out for buying opportunity at this level.

Short-term resistances for the stock would be at Rs 218 and then Rs 235. Though the stock has been attempting to consolidate over the last three sessions, there has been no strength in this move denoting that the stock can slide further in the near-term.

— Lokeshwarri S. K.

More Stories on : Technical Analysis | Stock Markets

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

Stories in this Section
How high net-worth individuals diversify risk

Copyright © 2008, 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