Business Daily from THE HINDU group of publications
Thursday, Aug 14, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Aug 14, 2008 ePaper | Mobile/PDA Version | Audio |
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Technical Analysis Markets - Recommendation 
ICICI Bank After forming a bearish engulfing candlestick pattern, the stock fell 3 per cent in the last trading session. We recommend a sell in the counter. Infosys Utilise rallies to sell the stock with tight stop loss at Rs 1,680. L&T The near-term outlook for the counter is bearish. We recommend a sell. ONGC We recommend a buy in this stock. Reliance Capital The stock is consolidating sideways. Desist trading in this counter for the session. Reliance Communications Initiate fresh short-position if the stock declines below Rs 433 with stiff stop-loss. Reliance Industries The stock is currently testing the resistance level of Rs 2,350. Fresh long-position can be initiated, only if the stock surpasses Rs 2,375 level with tight stop-loss. Satyam Computer Initiate fresh-short position, only if the stock reverses from the resistance level of Rs 420, with tight stop loss. SBI The stock is witnessing a selling pressure at around Rs 1,600 level. Sell the stock in rallies with stop loss at Rs 1,614. TCS Avoid trading in this counter for the session. 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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