Business Daily from THE HINDU group of publications
Thursday, Jul 17, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Jul 17, 2008 ePaper | Mobile/PDA Version | Audio |
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Technical Analysis Markets - Recommendation 
ICICI Bank In line with our expectation, the stock fell in the last trading session. Sell the stock in rallies with stiff stop loss at Rs 550. Infosys The stock was choppy on Wednesday and formed a doji candlestick pattern, indicating neutral stance. However, fresh short-position can be initiated, if the stock declines below Rs 1,527 level, with tight stop loss. L&T The stock is experiencing selling pressure at higher levels. We retain our sell recommendation in this stock. ONGC Avoid trading in this counter for the day. Reliance Capital The near-term outlook for the stock is bearish. We recommend a sell in this counter. Reliance Communications The stock is hovering around the support level of Rs 400. Initiate fresh short-position, only if the stock declines below Rs 389, with stiff stop loss. Reliance Industries The stock has been trending downward for the past three weeks. Utilise rallies to sell the stock, while maintaining a tight stop loss at Rs 2,000. Satyam Computer Sell the stock in rallies with stiff stop loss at Rs 410, a key resistance level. SBI We re-affirm our sell recommendation in this counter. TCS Initiate fresh short-position, only if the stock declines below Rs 719 with close stop loss.
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