Business Daily from THE HINDU group of publications
Thursday, Aug 21, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Aug 21, 2008 ePaper | Mobile/PDA Version | Audio |
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Technical Analysis Markets - Recommendation 
ICICI Bank Initiate fresh short-position if the stock declines below Rs 665 with tight stop-loss. Infosys In the last trading session, the stock formed a doji candlestick pattern, indicating neutral stance. Desist trading in this counter for the session. L&T Buy the stock in dips with tight stop-loss at Rs 2,640. ONGC The stock conclusively closed below the key support level at Rs 1,050 in the previous trading session. The near-term outlook is bearish for the stock. We recommend a sell. Reliance Capital Utilise rallies to sell the stock with stop-loss at Rs 1,335. Reliance Communications Fresh long-position can be initiated if the stock surpasses Rs 423, with stiff stop-loss. Reliance Industries Desist trading in this counter for the session. Satyam Computer After experiencing selling pressure at higher levels, the stock declined and formed a gravestone doji candlestick pattern, signalling bearishness on Wednesday. We recommend a sell. SBI We retain our sell recommendation for the session. TCS The stock is in a sideways consolidation. 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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