• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

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

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

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

The stock fell below our medium-term support level at Rs 870 last week. The stock has completed a zigzag pattern from the low made in June 2006.

The silver lining is that support is near at hand, in the zone between Rs 810 and Rs 820. Since the 200-day moving average is positioned here, traders can look out for buying opportunity here.

A slide below this support zone will take the stock price to Rs 780 or Rs 742.

Resistance for the week would be at Rs 880 and then at Rs 910.

Lokeshwarri S. K.

More Stories on : Technical Analysis | Stock Markets

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

Stories in this Section
Commodities as an emerging asset class

Copyright © 2007, 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