Business Daily from THE HINDU group of publications
Thursday, Jul 02, 2009
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Business Daily from THE HINDU group of publications Thursday, Jul 02, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Technical Analysis Markets - Recommendation 
The near-term stance is cautious for DLF, desist trading in this counter. Infosys is testing significant resistance level Rs 1800. Initiate fresh long position if the stock exceeds Rs 1815, with tight stop-loss. ICICI Bank is consolidating sideways in a narrow range of Rs 700 and Rs 750 since late May. Avoid trading in this counter. Utilise rallies to sell L&T and ONGC with tight stop at Rs 1600 and 1070 respectively. Buy Rel Cap in dips with tight stop at Rs 919. We reaffirm our sell recommendation in Rel Com as the near-term outlook is bearish. Fresh short-position can be initiated if RIL fails to surpass Rs 2099, with tight stop-loss. We recommend a buy in SBI with stiff stop at Rs 1760. Nifty future was volatile in the last trading session. Fresh long-position can be initiated only if Nifty Future moves above 4385, with tight stop. Yoganand D. BL Research Bureau 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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