Business Daily from THE HINDU group of publications
Friday, Mar 14, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Friday, Mar 14, 2008 ePaper | Mobile/PDA Version |
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Technical Analysis Markets - Recommendation 
ICICI Bank In the last session, the stock opened with a downside gap and it has failed to fill the gap. Utilise rallies to sell the stock with stop-loss at Rs 875. Infosys In line with our anticipation, the stock declined on Thursday. We re-affirm our sell recommendation in this counter. L&T On Thursday, the stock fell in line with our expectation and has formed a doji candlestick pattern. Avoid initiating buy or sell positions in L&T for the session. ONGC The stock has formed spinning top candlestick pattern in the previous trading session that indicates indecisiveness. Avoid trading in this stock for the day. Reliance Capital Sell the stock in rallies with stop-loss at Rs 1,354. Reliance Communications The stock continued its decline on Thursday and is testing key support at Rs 500. Fresh short-position can be initiated if the stock moves below Rs 490. Reliance Industries Contrary to our view, the stock declined and has closed below the 200-day moving average in the last session. We recommend a sell. Satyam Computer We retain our sell recommendation in this counter. SBI Our short-term outlook for the stock is bearish. Sell the stock in rallies while keeping the stop-loss at Rs 1,780. TCS We maintain our sell recommendation. Yoganand D. More Stories on : Technical Analysis | Recommendation
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