Business Daily from THE HINDU group of publications
Tuesday, Aug 19, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Tuesday, Aug 19, 2008 ePaper | Mobile/PDA Version | Audio |
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Technical Analysis Markets - Recommendation 
ICICI Bank The stock is experiencing selling pressure at higher levels. We recommend a sell in this counter. Infosys Fresh short-position can be initiated if the stock declines below Rs 1,680, with tight stop-loss. L&T The stock was volatile and formed a spinning top candlestick pattern in the last trading session, indicating indecisiveness. Avoid trading in this counter for the session. ONGC Buy the stock in dips with stop-loss at Rs 1,050 level. Reliance Capital The stock has conclusively breached the medium-term up trendline in the previous trading session, signalling bearishness. We recommend a sell. Reliance Communications The near-term outlook is bearish for the stock. The daily relative strength index has entered in the bearish zone. We recommend a sell. Reliance Industries Initiate fresh short-position if the stock falls below Rs 2,200 level, with tight stop-loss. Satyam Computer We recommend a buy in this stock. SBI Desist trading in this counter for the session as the outlook is cautious. TCS The stock is consolidating sideways. However, fresh long-position can be initiated if the stock surpasses Rs 852 level, with stiff 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 today’s trading only. (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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