The stock retreated 2 per cent in the previous week, witnessing a corrective decline. However, the stock is still hovering well above its 50- and 200-day moving averages. Traders with a short-term perspective should tread with caution in the ensuing week as the stock is now testing key support at Rs 880. A fall below this base level can pull the stock down to Rs 860. Subsequent important supports are at Rs 840 and Rs 820. But an upward reversal from the support at Rs 880 can take the stock higher to Rs 900 and then to Rs 920 in the short term. Medium-term investors can stay invested with a stop-loss at Rs 820. A decisive rally beyond Rs 936 will pave the way for an up-move to Rs 955.

State Bank of India (Rs 1,717.6)

In the midst of volatility the stock advanced 3 per cent in the week ago. The stock is trading well above its important support at Rs 1,600. Traders with a short-term perspective can go long on the stock while placing a stop-loss at Rs 1,670 levels. The stock can move to Rs 1,800 and then to Rs 1,850 in the coming week. Key resistances above these levels are at Rs 1,900 and Rs 2,000.

However, a strong decline below the important support at Rs 1,600 will drag the stock down to the next support in the zone of Rs 1,500 and Rs 1,510. Support below this band is placed at Rs 1,400. The stock needs to conclusively move above Rs 2,000 to alter its medium-term downtrend. An important medium-term resistance is at Rs 2,200.

Infosys (Rs 3,331)

Infosys just moved sideways, below the key resistance at Rs 3,360 last week. Both short and medium-term trends are up for the counter. Inability to surpass Rs 3,360 will confine the stock to continuing the sideways movement in the range of Rs 3,200 and Rs 3,360. An important resistance level above Rs 3,360 is Rs 3,400. Similarly, supports below Rs 3,200 are at Rs 3,130 and Rs 3,000. The medium-term trend has been up for the counter since the May 2013 low of Rs 2,190. Investors can stay invested with a stop-loss at Rs 2,700. It can trend higher to Rs 3,500 in the ensuing months.

Tata Steel (Rs 321.8)

After testing resistance at Rs 340, Tata Steel did a volte-face in the previous week, falling2 per cent.

Traders with a short-term perspective should remain alert in the week ahead.

The stock has key supports at Rs 310 and Rs 300. An upward reversal from either level can take the stock higher to Rs 330 or even to Rs 340 in the short term.

However, a decisive fall below Rs 300 can pull the stock down to Rs 288 and Rs 270.

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