Business Daily from THE HINDU group of publications
Wednesday, Oct 24, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Oct 24, 2007 ePaper | Mobile/PDA Version |
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Stocks Markets - Recommendation 
ICICI Bank The stock moved higher in line with our expectation. However, fresh long should be initiated only if the stock moves above Rs 1,125. Infosys The near-term outlook for Infosys stays negative. We reiterate our sell recommendation. L&T L&T surged more than 7 per cent on Tuesday accompanied by strong good volumes. We retain our buy recommendation and expect the stock to record a new life high. ONGC The stock is facing resistance at Rs 1,159. Buy the stock only when it moves above this resistance level. Reliance Capital In line with our expectations, the stock jumped almost 15 per cent in the last session. However, the stock faces resistance at Rs 1,750. Fresh longs are recommended only on a rally above Rs 1,780. Reliance Comm The stock gained in the previous session, negating our sell view. However, considering lack of volume support and weakening of the trend, we maintain our sell recommendation. Reliance Industries The stock reversed, forming a morning star pattern on Tuesday, as anticipated. We recommend a buy in this stock. Satyam Computer Sell the stock when it reverses from the resistance level at Rs 470. SBI Immediate resistance for the stock is Rs 1,854 (floor of October 17 gap). Hence, fresh buy should be made only if the stock moves above Rs 1,854. TCS The short-term outlook for TCS is bearish. We maintain our sell recommendation. Yoganand D. BL Research Bureau The analysis and opinion expressed in these columns are based on the technical analysis of the past price behaviour. The stop-loss level provided with the recommendation is important. The original view would stand negated if the stop-loss level is breached. There is a risk of loss in tradingMore Stories on : Stocks | Recommendation
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