Business Daily from THE HINDU group of publications
Tuesday, Jun 03, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Tuesday, Jun 03, 2008 ePaper | Mobile/PDA Version | Audio |
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Technical Analysis Markets - Recommendation 
ICICI Bank The stock is trending downward and near-term outlook is bearish. We retain our sell recommendation. Infosys After marking an intra-day high of Rs 2,017, the stock declined losing its intra-day gains in the last trading session, indicating bearishness. We recommend a sell. L&T The stock has formed a bearish engulfing candlestick pattern, indicating near-term bearishness. Fresh short-position can be initiated if the stock declines below Rs 2,890, with tight stop. ONGC The near-term stance for the stock is bearish. We recommend a sell. Reliance Capital We re-affirm our sell recommendation. Reliance Communications Initiate fresh short-position if the stock declines below Rs 543. Reliance Industries In the last trading session, the stock closed below the psychological support level of Rs 2,400. The Relative Strength Index has entered the bearish zone. We maintain our sell recommendation. Satyam Computer Sell the stock in the rallies with stop at Rs 538. SBI On Monday, the stock fell 3 per cent, accompanied with above average volume. We recommend a sell. TCS Utilise rallies to sell the stock with stop at Rs 1,015. 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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