Business Daily from THE HINDU group of publications
Friday, Nov 06, 2009
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Business Daily from THE HINDU group of publications Friday, Nov 06, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Technical Analysis Markets - Recommendation 
Fresh long position can be initiated only if DLF moves above Rs 380, with stiff stop-loss. ICICI Bank is facing key resistance around Rs 860. Initiate fresh long position if the stock breaches this level, with tight stop. Avoid trading in Infosys as the outlook is wait and watch. Buy L&T and ONGC in dips with stiff stop-loss at Rs 1,525 and Rs 1,140 respectively. Fresh long position can be initiated only if Reliance Capital climbs above Rs 810 and RIL moves above Rs 1,970, with tight stop. We recommend a buy in Reliance Communications. Desist trading in SBI as the stance is cautious. Initiate fresh long position if Nifty futures exceeds 4,820 level, with tight stop-loss. Yoganand D. BL Research Bureau (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)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 More Stories on : Technical Analysis | Recommendation
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