STOCK TECHNICALS ( SPOT ) - 09.06.08 to 13.06.2008- WEEKLY REVIEW

Said on Sunday 08th June, 2008:
AIRDECCAN : Up only above 111 – High of 107.45 – Remained below 111 - Closed @ 102.6
HINDCONS : Up only above 128.15 Support 113.6 & 120 – High of 122.15 – Remained below 128.15 – Closed @ 114.35
ITC : Up only above 219. High of 213.4 – Remained below 219 – Closed @ 198.15
IDFC : Watch 126 – Closed above 126 from Wednesday to Friday – made High of 134.8 - Closes @ 132.3
IRB : Up only above 191 – High 186 – Remained below 191 – Closes @ 180.05
POWERGRID : Up only above 86 – High of 87.9 – Could not sustain above 86 -Closes @ 85.65.
RPL : Up only above 164 – Tuesday made Low of 165.1 & did not violate through the week – High 182.2 - Closes @ 179.15
SAIL : Up only above 151-52 – Tuesday made a Low of 151.5 & did not violate through the week – High 166 - Closes @ 159.2
TATA STEEL : Up only above 820 Resistance 851 – High 863.9 - Closes @ 841
RELIANCE IND: Up only above 2286 – High 2299.9 – Could not sustain above 2286 - Closes @ 2270.4
ZEE EL: Up only above 226-27 – could not close above 226 on a single day – closes @ 220.9 Conclusion: IDFC, RPL, SAIL, TATA STEEL amply proves importance of points when price moved above it & that of Air Deccan, HCC, ITC, IRB, Power Grid, Reliance, Zee when prices remained below it !!