Business Daily from THE HINDU group of publications
Friday, Apr 04, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Friday, Apr 04, 2008 ePaper | Mobile/PDA Version |
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Technical Analysis Markets - Recommendation 
ICICI Bank Sell the stock in rallies with stop-loss at Rs 815. Infosys As long as the stock trades above Rs 1,500, the outlook remains positive. We recommend a buy. L&T We reaffirm our sell recommendation in this counter for the day. ONGC The stock is witnessing selling pressure at around Rs 1,050. Utilise rallies to sell the stock with stop-loss at Rs 1,055. Reliance Capital On Thursday, the stock was choppy and ended the session by forming a doji candle. Avoid initiating buy or sell positions in this counter for the session. Reliance Communications The near-term outlook for the stock is bearish. We reiterate our sell recommendation. Reliance Industries In the last trading session, the stock moved up negating our prior view, accompanied with low volume. The outlook is cautious for the stock. Desist trading for the session. Satyam Computer On Thursday, the stock made an upward breakthrough of its sideways trading range. Buy the stock in dips with stop loss at Rs 410. SBI The stock is in a watchful stage, hovering around the support level of Rs 1,600. Avoid trading for the session. TCS The stock rallied on Thursday, accompanied with above average volume. This rally has breached the 50-day moving average. We recommend a buy. Yoganand D. (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)More Stories on : Technical Analysis | Recommendation
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