Just have a look at this chart of Geometric Ltd. this is the life time history from the time it is listed. The present price of the stock is Rs 19.7/-.
In addition, also notice that on 30 Jul 2004, the stock price was reduced to half ( Probably bonus thereby doubling the equity) and then the stock price fell from Rs 551 to Rs 119.7 on 01/08/05 as the face value of the stock was reduced to Rs 2/-. It means that the present price of Rs 19.7 corresponds to Rs 197 before 30 Jul 2004 i.e. 19.7 x 5 (Split from FV 10 to FV 2)= Rs 98.5 and then multiply by 2 = Rs 197.
ZOOM IN OF THE ABOVE SHOWN GRAPH
Now if this stock crosses Rs 19.8/- ( i.e. Rs 198 before bonus), it is likely to climb steeply to Rs 286/- ( i.e. Rs 28.6 present price). Have a look at the chart below.
But if it fails to cross this value with good volume, it is unlikely to go below its very strong support between Rs 16 - Rs 18/-
Additionally, it is important to note that RAKESH JHUNJHUNWALA is steadiliy increasing his holding in this stock for last three quarters. In Sep 08 he was holding 3185000 shares, which he increased to 3865000 in Dec 08 quarter and he further strenthened his position to 4515000 shares in Mar 09 quarter.