Business Daily from THE HINDU group of publications
Friday, Mar 07, 2008
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Business Daily from THE HINDU group of publications Friday, Mar 07, 2008 ePaper | Mobile/PDA Version |
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Technical Analysis Markets - Recommendation 
ICICI Bank We retain our sell recommendation with stop-loss at Rs 1,000. Infosys On Wednesday, the stock found support just above Rs 1,400 and bounced off with average volume. However, the outlook for the stock is cautious. Desist trading in this stock for the session. L&T The stock is testing a key support and the 200-day moving average. Fresh short position can be initiated if the stock declines below Rs 3,175. ONGC Fresh long position can be initiated if the stock moves above the 200-day moving average at Rs 1,021. Reliance Capital On Wednesday, the stock recovered from an intra-day low of Rs 1,435. Traders should avoid initiating positions in this counter for the session. Reliance Communications Sell the stock if it reverses from the resistance level of Rs 550. Reliance Industries The stock is reversing from the support at Rs 2,240 again. We recommend a buy. Satyam Computer A significant resistance is at around Rs 450. Sell the stock if it fails to move above this resistance level. SBI Although the trend in the stock is weak, it is halting just above the 200-day moving average. Avoid trading in this counter for the day. TCS Initiate short position if the stock reverses from Rs 899. Yoganand D
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