Business Daily from THE HINDU group of publications
Wednesday, Dec 03, 2008
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Business Daily from THE HINDU group of publications Wednesday, Dec 03, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Technical Analysis Markets - Recommendation 
ICICI Bank Initiate fresh short-position if the stock reverses from the resistance level of Rs 352, with tight stop-loss. Infosys We recommend a sell in this counter as the near-term outlook is bearish. L&T In the last trading session, the stock conclusively breached the key support at Rs 700 by declining over 3 per cent with heavy volume. That support level is currently acting as a key resistance for the stock. We recommend a sell. ONGC We retain our sell recommendation in this stock for the session. Reliance Capital We are negatively biased on the stock in the near-term and recommend a sell for the day. Reliance Communications Desist trading in this counter as the outlook is watchful. Reliance Industries The stock was volatile on Tuesday. The daily relative strength index has entered in to the bearish zone, signalling weakness. Fresh short-position can be initiated only if the stock declines below Rs 1050, with tight stop-loss. Satyam Computer The outlook is cautious for the counter. Avoid trading in it for the session. SBI We re-affirm our sell recommendation for the session. TCS In line, with our expectation, the stock fell on Tuesday. We reiterate our sell recommendation as the near-term stance is bearish. Yoganand D. (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)BL Research Bureau More Stories on : Technical Analysis | Recommendation
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