Reliance Industries was choppy between its intra-week high of Rs 887 and low of Rs 857. It ended the week forming a doji candlestick pattern in its weekly chart, signalling a neutral stance.

The stock may move sideway between Rs 835 and Rs 900. A strong upward break out of this range will push the stock higher to Rs 921 and then to Rs 940 in the upcoming weeks. Short-term traders should tread with cautioun and initiate fresh long positions only an emphatic up move. Immediate resistance for the stock is at Rs 888.

However, inability to move above Rs 900 can pull the stock down to Rs 860 or Rs 846. Support below these levels is at Rs 835.

The stock has been on a medium-term down trend from its April peak. Strong move above Rs 965 is required to mitigate this downtrend.

State Bank of India (Rs 2,494)

The stock increased by Rs 23 last week. It however still continues to test itskey medium-term resistance at Rs 2,500. We adhere to our earlier view that traders should initiate fresh long positions only on a decisive move above this resistance.

The stock can rally to Rs 2,558 and then to Rs 2,640. Failure to surpass this level will pull the stock down to Rs 2,430-2,440 range. Supports below this level are at Rs 2,400, Rs 2,350 and Rs 2,300.

Strong move above Rs 2,657 is required to strengthen the current uptrend that started from the June low of Rs 2,123. In such a case, it could lift the stock higher to Rs 2,700 or Rs 2,750 in the ensuing month.

Tata Steel (Rs 584.3)

Tata Steel went up by almost 2 per cent on Friday,breaching its 50-day moving average. However, it still remains in a short-term downtrend.

Continuation of the up move beyond Rs 595 will mar the short-term downtrend and push the stock upwards to Rs 605 and then to Rs 615 in the days head.

On the other hand, an emphatic decline below its immediate support at Rs 570 can drag the stock down to Rs 560 and to Rs 550 levels. Traders should be cautious as long as it trades in the Rs 570-595 band.

The stock has been on a medium-term downtrend since its January peak of Rs 713. Strong move above Rs 640 will mitigate this downtrend and pave way for the stock to head higher to Rs 655 and then to Rs 680 in the ensuing months. Significant medium-term support for the stock is at Rs 548.

Infosys (Rs 2,825.3)

Infosys jumped 2 per cent on Friday breaching our first resistance level of Rs 2,800.

The stock reversed higher from around its significant long-term support of Rs 2,700 and surged almost 3.5 per cent for the week. Traders can initiate fresh long positions with a stop loss at Rs 2,790 level.

Targets are Rs 2,850, Rs 2,900 and Rs 2,953. Supports for the upcoming week are at Rs 2,765, Rs 2,700 and Rs 2,650.

As the stock is reversing higher from its key long-term support level, traders with a medium-term perspective and high-risk appetite can buy the stock with stop loss at Rs 2,700. Over the medium term, the stock can move higher to its important resistance level of Rs 3,000.

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