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On Thursday, DLF conclusively broke through its key support level Rs 175 by tumbling 9 per cent and L&T breached its key support level at Rs 670.We recommend sell in DLF and L&T. Utilise rallies to sell ICICI Bank with tight stop-loss at Rs 390. We recommend sell in Reliance Capital and SBI as the outlook is bearish. We re-affirm our sell in Infosys. Initiate fresh-short-position if RIL declines below Rs 1,100, with tight stop-loss. The outlook is cautious for Reliance Communications and TCS. Desist trading in these counters for the session. Fresh long position can be initiated if ONGC surpasses Rs 660, with stiff stop-loss.

Yoganand D.

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