Business Daily from THE HINDU group of publications
Wednesday, Dec 17, 2008
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Business Daily from THE HINDU group of publications Wednesday, Dec 17, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Technical Analysis Markets - Recommendation 
We recommend a sell in IT stocks such as Satyam, Infosys and TCS as the near-term stance is negative. In line with our expectation, ONGC and Reliance witnessed further buying interest on Tuesday. We retain our buy recommendation on these counters. L&T experienced profit-taking following a sharp rally from Rs 750. We expect profit booking to continue and recommend a sell. Reliance Capital was choppy and formed a spinning top candlestick pattern signalling indecisiveness, we maintain desist trading in this counter. We reaffirm our sell recommendation in Reliance Communications for the session. Sell ICICI Bank stock in rallies with tight stop-loss. On the other hand we recommend a buy in SBI. Yoganand D. More Stories on : Technical Analysis | Recommendation
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