Business Daily from THE HINDU group of publications
Friday, May 29, 2009
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Business Daily from THE HINDU group of publications Friday, May 29, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Technical Analysis Markets - Recommendation 
We re-affirm our prior view that fresh long position can be initiated if DLF surpasses Rs 379, with stiff stop-loss. We reiterate our buy recommendation in ICICI Bank and SBI as the near-term outlook is positive. Initiate fresh long position if L&T exceeds Rs 1,365, with tight stop loss. Infosys is witnessing selling interest at higher level; utilise rallies to sell this counter. We recommend a buy in ONGC with tight stop at Rs 1,115. Reliance Capital and Reliance Communications are experiencing selling pressure at higher levels. Utilise rallies to sell these stock with tight stop loss. Buy RIL in dips with stiff stop-loss at Rs 2,185. The near-term stance for Nifty will be positive as long as it trades above 4294 level. We recommend a buy with tight stop at 4294. Yoganand D. Note: In a buy recommendation, the resistances would be the targets and the nearest support would be the stop loss; In a sell recommendation, the supports would be the targets and the nearest resistance would be the stop loss; The recommendation would be valid for the day only; LTP - Last traded price 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 tradingMore Stories on : Technical Analysis | Recommendation
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