http://www.thehindubusinessline.com/iw/2010/06/20/stories/2010062050670700.htm
*Pivotals: Reliance Industries (Rs 1,055.2) * ** ** ** ** ** ** ** ** ** RIL edged higher ahead of its annual general meeting to record the intra-week peak of Rs 1,089.9. But it declined thereafter to close the session 3 per cent lower from its intra-day peak. The stock has key short-term resistance at Rs 1,096. Fresh trading longs are recommended only on a close above this level. Failure to do so will result in a decline to Rs 1,050 or Rs 1,020 over the upcoming sessions. Medium-term trend in the stock is down since the April peak of Rs 1,171. Reversal below Rs 1,100 will mean an impending decline to Rs 1,000 or Rs 975 once again. *State Bank of India (Rs 2,372.7)* SBI drifted sideways over the past week moving in a very narrow band between Rs 2,320 and Rs 2,380. Our short and medium-term view on this stock therefore remains unaltered. Fresh purchases are advised only on a close above Rs 2,380. Next target is Rs 2,500. Stop-loss level for the short-term can be Rs 2,280. Medium term range for SBI is between Rs 1,900 and Rs 2,500. *Tata Steel (Rs 474.4)* Investors of Tata Steel had a bumpy ride last week as the stock first rose to Rs 498 and then declined to the low of Rs 472.5. The nascent uptrend that began from the recent low of Rs 450 is currently under threat. Immediate support for the stock is at Rs 470. Decline below this level can drag the stock lower to Rs 450 or even Rs 421. Fresh shorts are therefore advised on a close below Rs 470. Key short-term resistance zone lies between Rs 500 and Rs 510. Key medium-term resistance is at Rs 545. *Infosys Technologies (Rs 2,781.5)* The strong surge in Infosys on Monday helped the stock close 5 per cent higher for the week. Short-term targets for the stock are Rs 2,811 and then Rs 2,985. Since the stock is approaching its former high of Rs 2,875, investors ought to tread carefully around this level. Short-term supports for the stock are at Rs 2,630 and Rs 2,520. — Lokeshwarri S.K -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
