Business Daily from THE HINDU group of publications
Tuesday, Jun 16, 2009
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Business Daily from THE HINDU group of publications Tuesday, Jun 16, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Technical Analysis Markets - Recommendation 
The near-term outlook is bearish for DLF. We recommend a sell. ICICI Bank is constantly testing the key resistance at Rs 750 for past two weeks. Utilise rallies to sell the stock with tight stop at Rs 750. We recommend a sell in SBI. Infosys was volatile and formed spinning top candlestick pattern indicating indecisiveness. Avoid trading in this counter. Initiate fresh short-position if L&T declines below Rs 1480 and ONGC tumbles below Rs 1112, with stiff stop-loss. Fresh short-position can be initiated if Reliance Capital dives below Rs 925 and Reliance Communications plunges below Rs 310, with tight stop. We recommend a sell in RIL as the near-term stance is negative. Fresh short-position can be initiated if Nifty future slips below 4456, with tight stop-loss. 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 trading.More Stories on : Technical Analysis | Recommendation
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