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ICICI Bank

On Monday, the stock plummeted 12 per cent with heavy volume, penetrating the key support level of Rs 515 and recording its 52 week low. We recommend a sell in this counter.

Infosys

The near-term outlook is bearish for the stock. We recommend a sell in this stock.

L&T

Initiate fresh short position only if the counter declines below Rs 2,300 level, with stiff stop-loss

ONGC

The stock was choppy and formed a spinning top candlestick pattern indicating indecisiveness in the last trading session.

Reliance Capital

We recommend a sell in this stock.

Reliance Communications

Sell the stock in rallies with tight stop-loss at Rs 345.

Reliance Industries

Fresh short-position can be initiated if the stock breaches Rs 1,900 level with stiff stop-loss.

Satyam Computer

We recommend a sell in this stock for the session.

SBI

The stock has conclusively closed below its 50-day moving average. We recommend a sell.

TCS

The daily relative strength index of the stock has entered the oversold territory. Buy the stock in dips with stop-loss at Rs 600.

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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