The Hindu Business Line : Day trading guide

Following a bullish engulfing pattern (formed on October 22), the stock has been rallying steadily. The short-term outlook remains positive. We maintain our buy recommendation.

Infosys

We recommend a sell in this stock with a stop-loss at Rs 1,875.

L&T

On Monday, the stock gained 10 per cent, accompanied with heavy volumes. The daily momentum indicator has touched the overbought region. However buy the stock in dips with stop at Rs 4,200.

ONGC

The stock conclusively penetrated the significant resistance (at Rs 1,200) in the last trading session by jumping up 7 per cent. As long as the stock trades above this resistance, the trend remains positive. Buy the stock with stop-loss at Rs 1,200.

Reliance Capital

The stock is slowly moving up. We reiterate our buy recommendation with stop-loss at Rs 1,821.

Reliance Communications

RCom is hovering near its all-time high. Low volume trade is a cautious factor to be considered. Fresh buy should be initiated only when the stock breaches Rs 800.

Reliance Industries

In the last session, the stock rallied stably, forming a long real body candlestick. We recommend a buy.

Satyam Computer

Fresh buy should be made only when the stock moves above the resistance level of Rs 490.

SBI

The stock is treading at its all-time high and we see selling pressure at higher levels. Desist trading for the current session.

TCS

We continue with our sell recommendation, with stop-loss at Rs 1,100.

Yoganand D.

BL Research Bureau

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