Business Daily from THE HINDU group of publications
Friday, May 30, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Friday, May 30, 2008 ePaper | Mobile/PDA Version | Audio |
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Non-conventional Energy Markets - Recommendation 
ICICI Bank The near-term outlook for the stock is bearish. We recommend a sell. Infosys The stock opened at our resistance level of Rs 1,850 and declined on selling pressure. We recommend a sell. L&T Initiate fresh long-position, only if the stock moves above Rs 2,930 level, with tight stop-loss. ONGC Fresh short-position can be initiated, if the stock declines below Rs 842. Reliance Capital Sell the stock in rallies with stop loss at Rs 1,280. Reliance Communications In line with our expectation, the stock moved up in the last trading session, accompanied with good volume. We retain our buy recommendation in this counter. Reliance Industries On Thursday, the stock declined, breaching the 200-day moving average as well as the minor support level of Rs 2,500. We recommend a sell. Satyam Computer The stock was volatile on Thursday and formed a spinning-top candlestick pattern, which indicates indecisiveness. The RSI is nearing the overbought territory. Sell the stock in rallies with stop loss at Rs 538. SBI Contrary to our expectation, the stock declined and formed a bearish engulfing candlestick pattern that indicates bearishness. We recommend a sell. TCS The stock has formed a dark cloud candlestick pattern. We recommend a sell. Yoganand D. BL Research Bureau More Stories on : Non-conventional Energy | Recommendation
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