Business Daily from THE HINDU group of publications
Friday, Oct 05, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Oct 05, 2007 ePaper |
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Technical Analysis Markets - Stock Markets 
ICICI Bank Sell signals are evident in the daily momentum charts of ICICI Bank. Sell the stock with a stop at Rs 1,095. Infosys The stock formed a bearish hanging man candlestick pattern near the key resistance at Rs 2,000. We revise our recommendation to a sell. L&T Avoid trading in this stock while it moves in the band between Rs 2,750 and Rs 2,950. ONGC Negating our view, the stock declined on Thursday forming a bearish engulfing pattern – which is a short term reversal pattern. We recommend a sell in ONGC. Reliance Capital We reiterate our view that the stock is forming a flag pattern, which is a short-term correction pattern. Buy the stock in corrections with a stop at Rs 1,680. Reliance Communications On Thursday, the stock declined in line with our anticipation. We maintain our sell recommendation in this stock. Reliance Industries We maintain our buy recommendation in this stock. Satyam Computer Satyam is unable to move past the resistance at Rs 460. Sell the stock with a stop at Rs 464. SBI The stock formed a doji candlestick (a pattern denoting indecisiveness) in the last session and is currently range bound between Rs 1,880 and Rs 1,980. Desist trading while the stock is confined to this range. TCS We recommend fresh buys only when the stock moves above Rs 1,095. Yoganand D. BL Research Bureau More Stories on : Technical Analysis | Stock Markets
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