Business Daily from THE HINDU group of publications
Wednesday, May 14, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, May 14, 2008 ePaper | Mobile/PDA Version | Audio |
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Technical Analysis Markets - Recommendation 
ICICI Bank Fresh short-position can be initiated only if the stock declines below Rs 872, with tight stop loss. Infosys The stock has formed a bearish engulfing candlestick pattern in the last trading session, indicating bearishness. We recommend a sell. L&T Sell the stock only if it reverses from Rs 2,875 with stiff stop-loss. ONGC In the last trading session, the stock tumbled penetrating the 50-day moving average, accompanied with good volume. We recommend a sell in this counter. Reliance Capital After opening higher, the stock lost its initial gains in the last trading session, experiencing selling pressure. Sell the stock in rallies with tight stop loss at Rs 1,330. Reliance Communications The stock is pausing at around Rs 550 levels. Avoid trading in this counter for the day. Reliance Industries Negating our previous view, the stock declined in the last trading session. We recommend a sell. Satyam Computer The stock has formed a shooting-star candlestick pattern indicating bearish signs. We recommend a sell. SBI We recommend a sell in this stock for the session. TCS Utilise rallies to sell the stock with stop loss at Rs 934. 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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