Business Daily from THE HINDU group of publications
Thursday, Jul 24, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Jul 24, 2008 ePaper | Mobile/PDA Version | Audio |
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Technical Analysis Markets - Recommendation 
ICICI Bank The stock is currently facing the resistance at Rs 750. Fresh long-position can be initiated, only if the stock moves above Rs 750, with a tight stop loss. Infosys The outlook is cautious for the stock. Avoid trading in this stock for the day. L&T In the last trading session, the stock conclusively penetrated its 50-day moving average by jumping by 7 per cent. The relative strength index has entered into the bullish zone. We recommend a buy. ONGC The stock has experienced selling pressure at higher levels in the previous trading session. Sell the stock in rallies with tight stop loss at Rs 1,028. Reliance Capital In line with our expectation, the stock surged in the last trading session. We retain our buy recommendation in this counter. Reliance Communications The stock broke through a key resistance of Rs 500, accompanied with high volume on Wednesday. We re-affirm our buy recommendation. Reliance Industries We recommend a buy in this counter. Satyam Computer Buy the stock in dips, with stiff stop loss at Rs 370. SBI Initiate short-position, if the stock fails to surpass the resistance level of Rs 1,600 with tight stop-loss. TCS We recommend a buy with tight stop loss at Rs 847. Yoganand D. BL Research Bureau
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