The Hindu Business Line : Day Trading Guide

The stock was volatile in the last trading session and it formed spinning to candlestick pattern indicting indecisiveness. Desist trading in this counter for the day.

L&T

Initiate fresh long-position if the stock exceeds Rs 2,570 level, with stiff stop-loss.

ONGC

The stock’s 200-day moving average is hovering around Rs 1,023 level. Fresh long-position can be initiated if the stock breaches this moving average, while maintaining tight stop-loss.

Reliance Capital

We recommend a buy in this counter.

Reliance Communications

In the last trading session, the stock made a 52-week low of Rs 325. The outlook remains cautious for the stock. Avoid trading in this stock for the session.

Reliance Industries

On Thursday, the stock steadily recovered from its intra-day low and completely engulfed Wednesday’s candlestick, forming a bullish engulfing candlestick pattern. We recommend a buy.

Satyam Computer

Utilise rallies to sell the stock with tight stop-loss at Rs 360.

SBI

Fresh long-position can be initiated if the stock moves above the resistance level of Rs 1,600, with stiff stop-loss.

TCS

The stock was choppy and formed doji candlestick pattern, indicating neutral stance in the last session. Avoid trading in this stock.

Yoganand D.

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.

More Stories on : Technical Analysis | Recommendation

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page