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We reaffirm our buy recommendation in DLF stock. Negating our prior view, ICICI Bank and Reliance Capital stock moved up in the last trading session. These stocks are testing key resistance. Fresh long-position can be initiated if ICICI Bank surpasses Rs 475 and Reliance Capital moves above Rs 580, with tight stop-loss. We retain our previous view of desist trading in Infosys and TCS stocks for the session. On Thursday, L&T penetrated its 50-day moving average by gaining 6 per cent. We recommend a buy. Moreover, the near-term outlook is positive for Reliance Communications and SBI, we recommend a buy. Initiate fresh long-position if ONGC moves beyond Rs 696 and RIL exceeds Rs 1,275, with stiff stop-loss.

Yoganand D.

(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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