Business Daily from THE HINDU group of publications
Wednesday, Dec 12, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Dec 12, 2007 ePaper | Mobile/PDA Version |
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Technical Analysis Markets - Recommendation 
ICICI Bank The stock moved up in line with our expectation in the last trading session. Short-term outlook for the stock is bullish and we maintain our buy recommendation. Infosys In the last session, the stock failed to move above the 50-day moving average line and formed a hanging man candlestick pattern. Sell the stock in rallies with stop loss at Rs 1,765. L&T The stock has been moving sideway in the range of Rs 4,200 and Rs 4,400 for the past one week. Avoid trading in this counter till it shows signs of moving in one direction. ONGC We recommend a buy in ONGC. Reliance Capital On Tuesday, the stock has formed a gravestone doji indicating bearishness. We retain our sell recommendation. Reliance Communications Negating our prior view, the stock moved up in the last session. Fresh long position should be initiated only when the stock moves above Rs 750. Reliance Industries RIL has formed a bullish engulfing pattern on Tuesday. We change our sell recommendation to buy. Satyam Computer Sell the stock in rallies with stop loss at Rs 450. SBI The stock is witnessing selling pressure at higher price levels. Desist trading in this counter. TCS We maintain our sell recommendation. Yoganand D. BL Research Bureau More Stories on : Technical Analysis | Recommendation
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