Business Daily from THE HINDU group of publications
Wednesday, Nov 11, 2009
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Business Daily from THE HINDU group of publications Wednesday, Nov 11, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Technical Analysis Markets - Recommendation 
DLF appears to be resumed its short-term downtrend. We recommend a sell in this counter. We notice formation of a long gravestone doji candlestick pattern in ICICI Bank, signalling bearishness. We recommend a sell in this stock. Fresh short position can be initiated if Infosys dives below Rs 2195, with tight stop-loss. Desist trading in L&T for the session. We are bearish in the stock of ONGC and recommend a sell. Initiate fresh short position if Reliance Capital declines below Rs 795 and RIL tumbles below Rs 2024, with stiff stop-loss. We re-affirm our sell recommendation in Reliance Communications. We recommend a buy in SBI with tight stop at Rs 2340. Initiate fresh short-position if Nifty futures drops below 4826, with tight stop-loss. 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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