Business Daily from THE HINDU group of publications
Friday, Sep 14, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Sep 14, 2007 ePaper |
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Stocks Markets - Recommendation
ICICI Bank The stock continues under its long-term moving average lines. This is a negative sign. Sell the stock if it struggles to move above Rs 900. IDBI We note a minor negative divergence in the daily momentum indicator, indicating a near-term down move. We continue to recommend a sell. IFCI The stock’s uptrend is strong and likely to continue in the near-term. We recommend a buy on this stock. Infosys Infosys was unable to hold near its intra-day high, indicating lack of strength. Sell on rallies as long as it trades below Rs 1,880. L&T It is not making any decisive move. Do not trade while the stock is moving in the range between Rs 2,500 and Rs 2,650. ONGC The outlook for this stock continues to stay negative. We reiterate a sell on this stock. Reliance Capital The near-term outlook remains positive in this stock. We maintain our buy recommendation. Reliance Communications We see an increase in trading volumes in the last trading session. After pausing the stock is ready for a rally. We recommend a buy. Reliance Industries The stock continues to record new highs. Buy in intra-day corrections as long as the stock stays above Rs 2,000. Satyam Computer The stock has found support at a crucial Fibonacci retracement level. But buying is recommended only if the stock penetrates Rs 440. SBI The view is bullish and we see a rise in volumes on Thursday’s session. Buy TCS It is trading just above a key support level of Rs 1,000, a reversal from this level would be a buy. Yoganand D
BL Research Bureau
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