Business Daily from THE HINDU group of publications Tuesday, Sep 16, 2008 ePaper | Mobile/PDA Version | Audio |
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Technical Analysis Markets - Recommendation
ICICI Bank Utilize rallies to sell the stock with tight stop-loss at Rs 673. Infosys In the last trading session, the stock tumbled by 4 percent decisively penetrating it 200-day moving average. The daily relative strength index has entered into the bearish zone. We recommend a sell. L&T Fresh short-position can be initiated if the stock declines below Rs 2513.
ONGC The near-term outlook is bearish for the stock. We re-affirm our sell recommendation in this counter. Reliance Capital The stock plunged more than 10 per cent accompanied with high volume on Monday. We are bearish on the stock. Sell the stock in rallies with tight stop-loss at Rs 1142 Reliance Communications We recommend a sell in this stock. Reliance Industries After recording a 52-week low of Rs 1824, the stock recovered and has formed a hammer candlestick pattern. Initiate fresh long-position if the stock surpasses Rs 1918, with stiff stop-loss. Satyam Computer The stock lost Rs 38 or 9 percent, accompanied with heavy volume in the last trading session. With this decline, the stock has resumed its intermediate-term downtrend. We recommend a sell. SBI Sell the stock in rallies with stiff stop-loss at Rs 1550 TCS We recommend a sell. More Stories on : Technical Analysis | Recommendation
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