Business Daily from THE HINDU group of publications
Wednesday, Mar 12, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Wednesday, Mar 12, 2008 ePaper | Mobile/PDA Version |
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Technical Analysis Markets - Recommendation 
ICICI Bank Avoid trading for the session in this stock. Infosys Initiate fresh short-position if the stock declined below Rs 1,400 with tight stop-loss. L&T A significant resistance is at Rs 3,000. Sell the stock if it reverses from this resistance level. ONGC Fresh long position can be initiated if the stock moves above Rs 1,022. Reliance Capital In the last session, the stock jumped up forming a bullish engulfing candlestick pattern. We recommend a buy. Reliance Communications We maintain our buy recommendation. Reliance Industries The stock closed above the 200-day moving average in the last session. We retain our buy recommendation in this counter. Satyam Computer On Thursday, the stock broke through the key support level of Rs 400, accompanied with good volume. We re-affirm our sell recommendation. SBI The stock has formed a spinning top candlestick pattern in the previous trading session, indicating indecisiveness. Avoid initiating buy or sell positions in this stock. TCS Sell the stock in rallies with stop-loss at Rs 840. (The analysis and opinion expressed in these columns are based on the technical analysis of the past price behaviour. The stop-loss level provided with the recommendation is important. The original view would stand negated if the stop-loss level is breached. There is a risk of loss in trading) Yoganand D.More Stories on : Technical Analysis | Recommendation
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