Business Daily from THE HINDU group of publications
Tuesday, Oct 14, 2008
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Business Daily from THE HINDU group of publications Tuesday, Oct 14, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Technical Analysis Markets - Recommendation 
ICICI Bank Initiate fresh long-position if the stock exceeds Rs 455, with tight stop-loss. Infosys The near-term outlook for the stock is bullish. We recommend a buy in this counter. L&T In the last trading session, the stock jumped up by 11 per cent, with good volume. We recommend a buy. ONGC The stock is experiencing selling pressure at higher levels. Fresh short-position can be initiated if the stock declines below Rs 915 with stiff stop-loss. Reliance Capital The stock has formed an inverted hammer, indicating bullishness in the previous trading session. Buy the stock in dips with tight stop-loss at Rs 790. Reliance Communications On Monday, the stock made an extraordinary gain of almost 19 per cent, with above average volume. The relative strength index has recovered from the oversold territory. We recommend a buy. Reliance Industries Fresh long-position can be initiated if the stock surpasses Rs 1,600 level, with tight stop-loss. Satyam Computer Buy the stock in dips while maintaining tight stop-loss at Rs 250 level. SBI A significant resistance for the counter is at Rs 1,600 level. Initiate fresh short-position only if the stock reverses from Rs 1,600 level with stiff stop-loss. TCS We recommend a buy. 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)
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