Business Daily from THE HINDU group of publications
Tuesday, May 27, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Tuesday, May 27, 2008 ePaper | Mobile/PDA Version | Audio |
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Technical Analysis Markets - Recommendation 
ICICI Bank The near-term outlook for the stock is bearish. We retain our sell recommendation in this counter. Infosys Fresh long-position can be initiated only if the stock moves above Rs 1,908, with tight stop. L&T In the last session, the stock declined, accompanied with above average volume. The daily RSI has entered the bearish zone. We recommend a sell in this counter. ONGC On Monday, the stock was volatile and formed a spinning top candlestick pattern, indicating indecisiveness. The near-term outlook for the counter is cautious. Desist trading in this counter for the session. Reliance Capital Sell the stock in rallies with stop at Rs 1,328. Reliance Communications Initiate fresh short-position if the stock declines below Rs 530 with stiff stop-loss. Reliance Industries The outlook remains positive, as long as the stock trades above Rs 2,500. We recommend a buy Satyam Computer The stock is consolidating sideways. Avoid trading in this stock for the session. SBI The stock has conclusively penetrated the key support level Rs 1,600 in the recent times. We re-affirm our sell recommendation. TCS Initiate fresh long-position if the stock moves above Rs 970 level, with tight 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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