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ICICI Bank

The stock was very volatile in the last trading session; recording a spinning top candlestick pattern that denotes indecisiveness. Desist from trading in this stock.

Infosys

Infosys declined on Tuesday in line with our anticipation. We reiterate our sell recommendation.

L&T

Though the stock gained in the last session in line with our expectation, it has formed a gravestone doji candlestick pattern that implies selling pressure at higher levels. Fresh longs should be initiated only if the stock rallies above Rs 4,470.

ONGC

A dark cloud cover was formed in the candlestick chart on Tuesday that denotes a potential trend reversal. We recommend a sell in this stock.

Reliance Capital

The stock marked a life-time high on Tuesday accompanied by heavy volumes. We maintain our buy recommendation.

Reliance Communications

The stock faces strong resistance between Rs 780 and Rs 800. Buy only on a penetration of this zone.

Reliance Industries

RIL recorded a negative close on Tuesday. However, fresh shorts should be initiated only if it falls below Rs 2,670.

Satyam Computer

The stock is moving sideways. We maintain our recommendation that fresh longs should be initiated only above Rs 490.

SBI

We note that the stock has reversed for the short term with an evening star candlestick pattern. Sell with stop at Rs 2,091.

TCS

The near-term outlook is bearish. We maintain our sell recommendation.

Yoganand D.

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