Business Daily from THE HINDU group of publications
Tuesday, Sep 09, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Tuesday, Sep 09, 2008 ePaper | Mobile/PDA Version | Audio |
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Technical Analysis Markets - Recommendation 
ICICI Bank Initiate fresh long-position only if the stock exceeds Rs 739, with stiff stop-loss. Infosys The stock is experiencing selling pressure at higher levels. Utilise rallies to sell the stock with stop-loss at Rs 1,789. L&T In the last trading session, the stock lost most of its intra-day gains, witnessing selling pressure. Fresh short-position can be initiated if the stock declines below Rs 2,700 level with tight stop-loss. ONGC Fresh long-position can be initiated if the stock surpasses Rs 1,114 level with tight stop-loss. Reliance Capital Sell the stock in rallies with stop-loss at Rs 1,400. Reliance Communications The stock is consolidating sideways in a narrow range. Desist trading in this counter for the session. Reliance Industries The counter has formed a gravestone doji candlestick pattern, indicating bearishness. We recommend a sell. Satyam Computer We recommend a buy in this stock. SBI The stock is currently testing the key resistance level of Rs 1,600. Initiate fresh long-position if the stock moves above Rs 1,614, with close stop-loss. TCS On Monday, the stock was choppy and formed a spinning top candlestick pattern that signals indecisiveness. Avoid trading in this counter for the day. (Note: In a buy recommendation, the resistances would be the targets and the nearest support would be the stop loss; In a sell recommendation, the supports would be the targets and the nearest resistance would be the stop loss; The recommendation would be valid for today's trading only.) More Stories on : Technical Analysis | Recommendation
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