Business Daily from THE HINDU group of publications
Wednesday, May 07, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, May 07, 2008 ePaper | Mobile/PDA Version | Audio |
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Technical Analysis Markets - Recommendation 
ICICI Bank The stock is consolidating sideway. Avoid trading for the day. Infosys Fresh long position can be initiated if the stock moves above Rs 1,840 level with tight stop-loss. L&T In line with our expectation, the stock declined in the last trading session. We retain our sell recommendation for the session. ONGC The stock has formed a spinning top candlestick pattern and is in a sideway consolidation mode. Desist trading in this counter till it trends up or down. Reliance Capital After a watchful outlook, the stock tumbled in the previous trading session accompanied with good volume. We recommend a sell. Reliance Communications The outlook for the stock is bearish. We reaffirm our sell recommendation. Reliance Industries Following a spinning top candlestick pattern, the stock has formed a doji pattern that indicates neutral stance. We retain our prior view of avoiding trading for the session. Satyam Computer Buy the stock in declines with stop-loss at Rs 480. SBI We uphold our sell recommendation in this counter. TCS Initiate fresh long position only if the stock moves above Rs 951, with stiff stop. 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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