Business Daily from THE HINDU group of publications Wednesday, May 21, 2008 ePaper | Mobile/PDA Version | Audio |
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Technical Analysis Markets - Recommendation
ICICI Bank After finding resistance at around Rs 955, the stock began to decline. We recommend a sell. Infosys Buy the stock in dips with tight stop loss at Rs 1,870. L&T Fresh long-position can be initiated, if the stock moves above Rs 2,997 with stiff stop loss. ONGC The near-term outlook for the stock is bearish. We recommend a sell. Reliance Capital Sell the stock in rallies with stop loss at Rs 1,407. Reliance Communications Initiate fresh sell or short position, only if the stock declines below Rs 590. Reliance Industries The outlook for the stock is cautious for the session. Desist trading in this counter. Satyam Computer The near-term stance for the stock is bullish. We recommend a buy in this counter. SBI In the last trading session, the stock declined forming a bearish engulfing candlestick pattern, which indicates bearishness. We recommend a sell. TCS Sell the stock in rallies with stop loss at Rs 980 level Yoganand D. More Stories on : Technical Analysis | Recommendation
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