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Wednesday, Nov 19, 2008
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Day Trading Guide


ICICI Bank

Fresh short-position can be initiated only if the stock declines below Rs 350 level, with tight stop-loss.

Infosys

In the last trading session, the stock breached the support level Rs 1,200 by falling 4 per cent accompanied with heavy volume. The daily relative strength index has entered in to the bearish zone. We recommend a sell.

L&T

The stock has formed a gravestone doji candlestick pattern indicating selling pressure. We retain our sell recommendation.

ONGC

Utilise rallies to sell the stock while maintaining stiff stop-loss at Rs 694 level.

Reliance Capital

The stock is likely to test October low. The near-term outlook is cautious for the counter. Avoid trading in this counter for the session.

Reliance Communications

We recommend a sell.

Reliance Industries

We re-affirm our prior view of selling the stock in rallies with tight stop-loss at Rs 1,185.

Satyam Computer

The stock fell in the previous trading session, in line with the expectation. We reiterate our sell recommendation in this stock.

SBI

Sell the stock in rallies with tight stop-loss at Rs 1,156.

TCS

The stock breached the support level Rs 500 on Tuesday, with good volume. We recommend a sell.

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.

Yoganand D.

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