Business Daily from THE HINDU group of publications
Sunday, Feb 24, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Sunday, Feb 24, 2008 ePaper | Mobile/PDA Version |
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Investment World
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Technical Analysis Markets - Stock Markets 
This stock too went into a gentle slide last week though there was no major sell-off. We continue to advise caution over the near-term since the stock is forming lower peaks and is unable to move above the long-term average lines present in the zone between Rs 900 and Rs 920. We maintain the view that a fall to Rs 820 or Rs 790 is likely in the near-term. Fall below the second support would mean that the stock is charting the third part of the correction that began at the October 2007 peak. This move can drag the stock lower towards Rs 700 again, where long-term investors can bottom fish. Move past Rs 980 is needed to mitigate the negative medium-term outlook. More Stories on : Technical Analysis | Stock Markets
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