Business Daily from THE HINDU group of publications
Wednesday, Oct 15, 2008
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Business Daily from THE HINDU group of publications Wednesday, Oct 15, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Technical Analysis Markets - Recommendation 
ICICI Bank The stock has formed a spinning top candlestick pattern indicating indecisiveness in the last trading session. Desist trading in this counter for the day. Infosys In the last trading session, the stock gained 5 per cent, reinforcing near-term bullishness. We retain our buy recommendation in this counter. L&T On Tuesday, the stock witnessed selling pressure at higher levels. Utilise rallies to sell the stock with tight stop-loss at Rs 1070. ONGC The stock breached the support level Rs 900 by tumbling 3 per cent, accompanied with heavy volume. We recommend a sell in this stock. Reliance Capital The outlook is cautious for the stock. Avoid trading in this counter for the session. Reliance Communications Buy the stock in dips with stiff stop-loss at Rs 250. Reliance Industries The outlook remains positive as long as the stock trades above Rs 1,600 level. We recommend a buy with tight stop-loss at Rs 1,600. Satyam Computer We re-affirm our buy recommendation. SBI Sell the stock in rallies with stiff stop-loss at Rs 1600. TCS We reiterate our buy recommendation. 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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