Business Daily from THE HINDU group of publications
Tuesday, Apr 08, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Apr 08, 2008 ePaper | Mobile/PDA Version |
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Technical Analysis Markets - Recommendation 
ICICI Bank On Monday, the stock moved up forming a bullish engulfing candlestick pattern that indicates short-term bullishness. We recommend a buy. Infosys The outlook for the stock is cautious and is trending sideways. Desist trading in this counter till we notice any signs of trend. L&T In the last trading session, the stock found support at around Rs 2,600 level and moved up recovering its intra day losses. Buy the stock in dips with stop at Rs 2,700. ONGC Avoid initiating buy or sell positions in this counter for the day as the outlook is watchful. Reliance Capital Initiate long position only if the stock moves above Rs 1,240 with tight stop-loss. Reliance Communications The stock is at decisive stage, hovering around the key support level Rs 500. Avoid trading in this stock for the day. Reliance Industries Fresh long position can be initiated if the counter moves above Rs 2,450 level with stiff stop-loss. Satyam Computer The stock is facing a key resistance level at Rs 450. Sell the stock in rallies with tight stop-loss. SBI We recommend a buy. TCS We maintain our buy recommendation. Yoganand D. (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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