Business Daily from THE HINDU group of publications
Tuesday, Jan 08, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Jan 08, 2008 ePaper | Mobile/PDA Version |
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Technical Analysis Markets - Recommendation 
The stock penetrated a key resistance level on Monday and made new high. We recommend a buy. Infosys We reaffirm our sell recommendation in this counter. L&T Buy the stock in dips with stop at Rs 4,200. ONGC On Monday the stock found support at Rs 1,250 and bounced up. As long as the stock trades above this support level, the near-term trend remains bullish. Buy the stock in dips with tight stop-loss at Rs 1,250. Reliance Capital The stock is witnessing selling pressure at higher levels. Avoid the stock for the session. Reliance Communications The stock is testing resistance at Rs 800 level. Fresh long should be initiated only when the moves above this resistance level. Reliance Industries We recommend a buy in RIL. Satyam Computer Our near-term outlook for the stock is bearish. Sell the stock in rallies with stop at Rs 432. SBI The stock is moving sideways in a narrow range, above the 21-day moving average line. Buy the stock in dips with stop at Rs 2378 level. TCS We note that the daily momentum indicator has entered the bearish region, which indicates further bearishness. We maintain our sell recommendation in TCS Yoganand D.More Stories on : Technical Analysis | Recommendation
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