Business Daily from THE HINDU group of publications
Friday, Sep 21, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Sep 21, 2007 ePaper |
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Stocks Markets - Recommendation
ICICI Bank The stock has formed a doji candlestick pattern (opening and closing prices are equal). Since this pattern could indicate the exhaustion in buying momentum, we recommend not to trade in this stock for the day. Infosys The gap formed on Wednesday was closed in the last trading session. The near-term outlook for the stock has turned negative. We recommend a sell. L&T The stock scaled its previous all-time high on Thursday. The near-term outlook stays positive. We maintain our buy recommendation. ONGC Momentum indicators continue to signal a buy. Buy in corrections as long as the stock trades above Rs 880. Reliance Capital The stock is pausing at higher levels. The daily momentum indicators have also reached the over-bought zone. Our view is neutral and we recommend desisting from trading on this counter. Reliance Communications Buy the stock as it reverses from Rs 556. Reliance Industries The stock is trading at its life-time high. Negative divergence in the daily price rate of change indicator signals that a correction could be in the offing. Sell the stock when it falls below Rs 2,160. Satyam Computer The lower peak recorded on Thursday signals the resumption of the down-trend. We recommend a sell on this stock. SBI SBI is also pausing near its all-time highs. Momentum indicators are signalling weakness. Sell if the stock struggles to move past Rs 1,800. TCS Sell when the stock moves below Rs 983. Yoganand D BL Research Bureau More Stories on : Stocks | Recommendation
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