The Hindu Business Line : Day Trading Guide

In the last trading session, the stock bounced up taking support at around Rs 750. Initiate fresh long-position only when the stock exceeds Rs 797 level, with tight stop-loss.

Infosys

Fresh long-position can be initiated if the stock moves above the psychological resistance level of Rs 2,000 with stiff stop.

L&T

The outlook for the stock is cautious. Avoid trading in this counter for the day.

ONGC

The near-term stance for the counter is bullish. We retain our buy recommendation.

Reliance Capital

On Thursday, the stock found support at around Rs 1,050 and bounced up forming a bullish engulfing candlestick pattern, accompanied with good volume. We recommend a buy.

Reliance Communications

Long-position can be initiated if the stock moves above Rs 555, with tight stop.

Reliance Industries

The near-term outlook for the stock is bearish. We retain our sell recommendation.

Satyam Computer

Contrary to our expectation, the stock moved up in the last trading session. The outlook remains positive as long as the stock trades above Rs 500. Buy the stock in dips with stiff stop.

SBI

After touching our support level Rs 1,294, the stock bounced up in the last trading session. We recommend a buy.

TCS

The stock is consolidating sideways. Desist trading in this counter.

Yoganand D.

BL Research Bureau

(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)

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