Business Daily from THE HINDU group of publications
Friday, Dec 19, 2008
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Business Daily from THE HINDU group of publications Friday, Dec 19, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Technical Analysis Markets - Recommendation 
We retain our buy recommendation in DLF and Reliance Capital. ICICI Bank is facing key resistance at around Rs 498, initiate fresh short-position if the stock reverses from this level with tight stop-loss. We recommend a buy in L&T, ONGC and RIL as these stocks smartly bounced up in the last trading session, with good volume. However, contrary to our expectations Infosys and TCS moved up on Thursday. Desist trading in Infosys as the outlook is cautious. Buy TCS in dips with tight stop-loss at Rs 497. Avoid trading in Reliance Communications for the session. In the last trading session, SBI witnessed extraordinary buying interest and it surged 7 per cent. Initiate fresh long-position only if the stock exceeds Rs 1,320 with stiff stop-loss. 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 Yoganand D. More Stories on : Technical Analysis | Recommendation
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