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Wednesday, Oct 10, 2007
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ICICI Bank

In line with our expectation, the stock has resumed the medium term up trend in the last trading session. We reiterate our buy recommendation.

Infosys

Infosys moved above the resistance at Rs 2,020 indicated in our last column. We recommend a buy in this stock.

L&T

L&T bounced up on Tuesday, negating the dark cloud candle stick pattern. However, fresh long is recommended only when the stock moves above Rs 3,249.

ONGC

ONGC reversed on Tuesday as anticipated by us. We maintain our buy recommendation in this stock.

Reliance Capital

Reliance Capital reversed from the key support at Rs 1,586, as indicated in our previous column. Tuesday's surge was accompanied by strong volumes. We maintain our buy recommendation.

Reliance Comm

The stock broke out of the trading range between Rs 620 and Rs 660 on Tuesday and recorded an all time high. However, since the daily momentum indicators are in the overbought region, we expect a minor correction in the near term. Sell the stock if it reverses from Rs 714.

Reliance Ind

RIL reversed from the support at Rs 2,372 and recorded a new high on Tuesday. The outlook for this stock remains positive. Buy the stock with a stop loss at Rs 2,540.

Satyam Computer

We reiterate our buy recommendation.

SBI

Short-term overview for SBI stays bullish. We maintain our buy.

TCS

The stock is still range bound between Rs 1,050 and Rs 1,100. Fresh long should be made only when the stock crosses Rs 1,120.

Yoganand D.

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