Business Daily from THE HINDU group of publications
Wednesday, Jul 23, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, Jul 23, 2008 ePaper | Mobile/PDA Version | Audio |
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Technical Analysis Markets - Recommendation 
ICICI Bank Initiate fresh long-position only if the stock surpasses Rs 675 level, with tight stop. Infosys The stock is consolidating sideways in a narrow range of Rs 1,550 and Rs 1,600. Desist trading in this counter for the session. L&T Fresh long-position can be initiated if the stock exceeds Rs 2,603 (50-day moving average), with stiff stop-loss. ONGC The near-term outlook for the stock is bullish. Buy the stock dips while maintaining stop at Rs 953. Reliance Capital In the last trading session, the stock jumped up 7 per cent with good volume, breaching the 50-day moving average. We recommend a buy. Reliance Communications The stock is trending up from the support level Rs 400 level. We recommend a buy with stop at Rs 454. Reliance Industries The stock has experienced selling pressure in the last trading day. The outlook is cautious for the stock. Avoid trading in this counter. Satyam Computer The stock is hovering above a key support level Rs 360. Utilise dips to buy the stock with stop at Rs 360. SBI Desist trading in this stock for the session. TCS Sell the stock if the fails to move above Rs 850 level with close stop. Yoganand D. (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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