Business Daily from THE HINDU group of publications Wednesday, Jan 09, 2008 ePaper | Mobile/PDA Version |
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Technical Analysis Markets - Recommendation
ICICI Bank Contrary to our prior view, the stock fell in the last trading session. However, fresh long should be initiated only when the stock moves above Rs 1,364. Infosys The bounce recorded in the stock on Tuesday is not convincing. We maintain our sell recommendation in this counter. L&T In line with our anticipation, the stock gained in the last session. We retain our buy recommendation. ONGC On Tuesday, ONGC moved up accompanied with good volume. Our short-term outlook remains bullish and we continue with our buy recommendation. Reliance Capital We notice hanging man candlestick pattern in the counter, which is a bearish pattern. We recommend a sell with stop loss at Rs 2,730. Reliance Communications The stock was volatile in the prior session and formed at doji candlestick pattern. Desist trading in this counter for the session. Reliance Industries We uphold our buy recommendation. Satyam Computer We see that the stock has formed a bullish harami candlestick pattern which is inconclusive. Do not trade in the stock for the session. SBI We reaffirm our buy recommendation. TCS We retain our sell recommendation in TCS Yoganand D.
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