The chart says it all. Unitech has been tightly contained by its resistance line, and there haven’t been any triggers for break out on upside. However, a breakout at current level of 16 can take the stock into rapid upmove towards 21-26 level. Current Price = 16 and 1 year Target =31 (by 31 Dec 2014).
Reliance Industries(RIL) Technical Analysis -Nov2013
Reliance Industries (RIL) is at a key Support Level of 830-840, and break below it can cause negative momentum and long unwinding, which can result in drop to 760-770 levels, where a strong support exists. In very negative market conditions with Nifty falling below 5000, RIL may revisit 700 level, which is 20% downside from here. From the current level, RIL can also bounce back up to 900. Therefore, a long side trade needs Dec 800 Put options.
Iran Oil Deal
On 24 Nov 2013, Iran, USA and five other countries struck a deal aimed at curbing Iran’s nuclear programme in exchange for an easing of the sanctions against Iran. This may have significant implications for India which was Iran’s second-largest importer of oil. The easing of sanctions against Iran should result in lower oil prices, which will benefit India. However, as global demand for Iranian oil increases, Iran will become less dependent on India, and may stop accepting Indian rupees as part payment for oil and may favor trade with countries paying fully in US dollars.