• 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

Reliance Infrastructure reversed lower from an intra-week peak t Rs 1122 and declined to Rs 975.

Since the stock has recorded a heady rally from the trough at Rs 660 formed on July 2, there is likely to be a pause during which it fluctuates between Rs 900 and Rs 1100.

Slowing momentum in the daily oscillator charts too corroborate this view.

The stock has strong support for the near term at Rs 940.

Short-term traders can buy on reversal from here. Subsequent supports are at Rs 897 and then Rs 842.

Medium-term view on this stock will turn negative only on a weekly close below Rs 842. Resistances for the week will be at Rs 1122 and then Rs 1226.

More Stories on : Technical Analysis | Stocks

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

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