Business Daily from THE HINDU group of publications
Tuesday, May 06, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Tuesday, May 06, 2008 ePaper | Mobile/PDA Version | Audio |
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Technical Analysis Markets - Recommendation 
ICICI Bank Initiate Fresh long position only if the stock moves above Rs 947 with tight stop-loss. Infosys The stock is experiencing selling pressure at higher levels. Utilise rallies to sell the stock with stop at Rs 1,832. L&T We recommend a sell in this counter. ONGC Fresh short position can be initiated if the stock declines below Rs 1,027 level, with stiff stop-loss. Reliance Capital Avoid trading in this stock as the outlook is watchful. Reliance Communications We retain our sell recommendation in RCom. Reliance Industries We notice a spinning top candlestick pattern in this stock that indicates indecisiveness. Desist trading in this stock for the session. Satyam Computer In the last trading session, the stock opened higher and declined forming a dark cloud candlestick pattern, which is a bearish pattern. We recommend a sell. SBI The stock has formed a bearish engulfing candlestick pattern in the last trading session that indicates bearishness. We recommend a sell. TCS Sell the stock in rallies with tight stop at Rs 945. Yoganand D. BL Research Bureau (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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