Business Daily from THE HINDU group of publications Tuesday, Oct 09, 2007 ePaper |
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Technical Analysis Markets - Recommendation
ICICI Bank The stock has been declining for the past three trading sessions and it is currently finding support at Rs 1,000 levels. Buy the stock in the dips with stop-loss at Rs 996. Infosys The stock is testing the key resistance level of Rs 2,000. Fresh long is recommended only when the stock moves above Rs 2,020. L&T On Monday, L&T lost its initial gains and formed a dark cloud candle stick pattern - a bearish pattern. We recommend a sell. ONGC Buy the stock with a stop at Rs 910. Reliance Capital The stock is trading near a key support level of Rs 1,586. Buy when the stock reverses from this support level. Reliance Communications The stock is consolidating in the range between Rs 620 and Rs 660. Do not trade while the stock is moving within this band. Reliance Industries RIL has key near-term support at Rs 2372. Fresh shorts should be initiated only if the stock price falls below this level. Satyam Computer The stock is gradually rallying. We recommend a buy with stop-loss at Rs 450. SBI SBI bounced off the key short-term support at Rs 1,750 on Monday. Buy the stock with a stop at Rs 1,695. TCS The stock is consolidating between Rs 1,050 and Rs 1,100. Buy the stock only when it penetrates Rs 1,100. Yoganand D.
BL Research Bureau
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