Taking support from the band between Rs 67 and Rs 71 which is a significant long-term base, Neyveli Lignite Corporation accelerated 20 per cent in the previous week.

This upward move was helped by the positive divergence in the daily relative strength index and price rate of change indicator.

Friday's 14 per cent jump has emphatically penetrated the stock's medium-term down trendline that was in place from February 2012 peak of Rs 105.

The daily RSI has entered in to the bullish zone from the neutral region and weekly RSI is inching higher in the neutral region towards this zone.

The stock can continue its upward journey until it encounters resistance at Rs 93. Next key resistance is at Rs 105. However, failure to rally beyond Rs 93 can witness a corrective decline to Rs 80, which is the immediate key support for the stock.

Next supports are positioned at Rs 75 and then at the Rs 67 and Rs 71 range.

Long-term trend is down for the stock. An emphatic plunge below Rs 67 and Rs 71 range will strength this trend and pull the stock down to Rs 60 in the long-term.

Havells India (Rs 528.8)

Hitting significant resistance at Rs 600, the stock reversed direction and fell by 7 per cent in the last week.

The stock has been on a sideways consolidation phase since March this year between Rs 520 and Rs 600.

Strong decline below the lower boundary at Rs 520 will pull the stock down to Rs 485 or even lower to Rs 450 in the medium-term. Immediate resistance for the stock is pegged at Rs 560 and then at Rs 600.

As long as the stock trades above Rs 450, its intermediate-term uptrend stays in place. Decisive breakthrough of the upper boundary will push the stock higher to Rs 650 in the long-term.

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