• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

The stock found support around Rs 1,000 and bounced up with good volumes on Monday. A bullish engulfing candlestick pattern is observed, which has bullish implication for the near term. We recommend a buy.

The short term outlook for Infosys is bearish. Sell the stock in rallies with a stop at Rs 1955.

L&T’s medium term up trend is intact. A short-term trough could have been formed on Monday. We recommend a buy in this stock.

The stock is displaying high intra-day volatility. Desist from trading in this stock.

The stock found support at 50 per cent fibonacci retracement level of its prior up trend. A minor pull back rally is likely. We recommend a buy in this stock.

The stock is currently range bound between Rs 700 and Rs 750. However, we are biased towards a down move. Sell the stock when it reverses from Rs 741.

As expected, the stock declined and has breached the 21-day moving average in the last session. However, fresh shorts should be initiated only if the stock falls below Rs 2370 since a short-term reversal is possible from these levels.

The near-term trend is not decisive. Wait for a trend to be established before trading in this stock.

After a steep decline from life high, the stock bounced up on Monday. But fresh longs should be initiated only if the stock moves beyond Rs 1750.

We note that the stock has reversed from a key resistance level of Rs 1126. Sell the stock in rallies with a stop at Rs 1125.

Yoganand D.

BL Research Bureau

More Stories on : Technical Analysis | Recommendation

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Floor price may replace ban on rice exports

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line