The Hindu Business Line : Day Trading Guide

DLF and L&T stocks are pausing at their current levels. Avoid trading in these counters. We re-affirm our sell recommendation in Reliance Capital and Reliance Communications. The near-term outlook is bearish for ICICI Bank and ONGC. We recommend sell in these counters. Fresh short-position can be initiated in RIL if it penetrates Rs 1,050, with stiff stop-loss. On the other hand, negating our view, Infosys stock moved up. Initiate fresh long-position only if the stock surpasses Rs 1,250 level, with tight stop-loss. Fresh long-position can be initiated if SBI moves beyond Rs 1,205 and TCS exceeds Rs 536, with stiff stop-loss.

Yoganand D.

BL Research Bureau

(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 the next trading day only; LTP - Last traded price)

(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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