• 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

The weakness in the first three days of last week resulted in Unitech closing the week with a 12 per cent loss. The recovery towards the weekend was not strong enough to mitigate the negative short-term outlook. The stock remains in a strong short and medium-term down trend. The positive factor in last week’s trading is that the stock managed to close the week within the key long-term support band between Rs 145 and Rs 160. As mentioned before, the next long-term support for the stock is at Rs 113.

The resistance levels for the short-term are at Rs 166 and then Rs 185. A close above the second resistance is needed to reverse the negative short-term outlook.

The support levels for the week ahead are at Rs 135 and then Rs 129.

— Lokeshwarri S. K.

Stories in this Section
I want to retire early…

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