Business Daily from THE HINDU group of publications
Wednesday, Jul 09, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, Jul 09, 2008 ePaper | Mobile/PDA Version | Audio |
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Technical Analysis Markets - Recommendation 
ICICI Bank The stock has formed a doji candlestick pattern in the last trading session. Desist trading in this counter for the day. Infosys In the last trading session, the stock witnessed selling pressure and declined. We recommend a sell. L&T The near-term outlook of the stock is bullish. We recommend a buy. ONGC Following a cautious outlook, the stock declined experiencing selling pressure in the last trading session. We recommend a sell. Reliance Capital Triggered by the positive divergence in the daily relative strength index, the stock began to move up recently. The near-term stance is positive for the stock. We maintain our buy recommendation. Reliance Communications The stock has formed a spinning top candlestick pattern, indicating indecisiveness. Avoid trading in this counter for the session. Reliance Industries In line with our expectation, the stock declined in the previous trading session. We retain our sell recommendation. Satyam Computer Negating our prior view, the stock tumbled in the last trading session forming bearish harami candlestick pattern. We recommend a sell. SBI We reiterate our buy recommendation in this stock. TCS After pausing around Rs 850 levels for few trading sessions, the stock fell on Tuesday. The RSI has entered into the bearish zone. We recommend a sell. (Note: In a buy recommendation, the resistances would be the targets and the nearest support would be the stop loss; In a sell recommendation, the supports would be the targets and the nearest resistance would be the stop loss; The recommendation would be valid for today's trading only.) 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. Yoganand D. More Stories on : Technical Analysis | Recommendation
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