Business Daily from THE HINDU group of publications
Tuesday, Jan 22, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Jan 22, 2008 ePaper | Mobile/PDA Version |
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Stocks Markets - Recommendation 
ICICI Bank In the last trading session, the stock breached the 50-day moving average line downwards and tumbled. We maintain our prior sell recommendation. Infosys We note that the stock has recovered from its intra-day low and has formed a hammer candlestick pattern. The daily momentum indicator has reached oversold region. The stock is at a cautious level. Desist trading for the session. L&T On Monday, L&T made a downward breakout of the broad sideways consolidation range of Rs 4,000 and Rs 4,400, accompanied with good volume. We recommend a sell. ONGC Sell the stock in rallies with stop at Rs 1,171. Reliance Capital Accompanied with high volume, the stock tumbled badly in the last session penetrating the psychological support level of Rs 2,000. We recommend a sell. Reliance Communications Sell the stock in rallies with tight stop at Rs 654. Reliance Industries The stock witnessed selling pressure and declined below a key support level of Rs 2,600. We recommend a sell. Satyam Computer Avoid trading in this stock for the session. SBI Our near-term outlook for the stock is bearish. We recommend a sell. TCS We continue with our sell recommendation. Yoganand D. More Stories on : Stocks | Recommendation
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