Business Daily from THE HINDU group of publications
Wednesday, Jun 18, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, Jun 18, 2008 ePaper | Mobile/PDA Version | Audio |
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Technical Analysis Markets - Recommendation 
ICICI Bank On Tuesday, the stock surpassed the 21-day moving average, accompanied with above-average volume. We recommend a buy. Infosys The stock is pausing at current levels. Avoid trading in this counter for the session. L&T Negating our prior view, the stock surged with good volume in the last trading session. Buy the stock in dips with tight stop loss. ONGC Initiate fresh long position, only if the stock moves above Rs 900, with stiff stop-loss. Reliance Capital Buy the stock in dips with stop-loss at Rs 1,145. Reliance Communications The near-term outlook for the stock is bearish. We recommend a sell in this counter. Reliance Industries In the last trading session, the stock conclusively breached the minor resistance level of Rs 2,300. We retain our buy recommendation for the day. Satyam Computer Sell the stock in rallies, with stop loss at Rs 498. SBI Fresh long-position can be initiated, only when the stock moves above Rs 1,407 level, with stiff stop loss. TCS The outlook is cautious for the stock. Desist trading in this counter for the day. 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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