The Hindu Business Line : Day Trading Guide

We re-affirm our buy recommendation in DLF. ICICI Bank and SBI is moving sideways. Avoid trading in these stocks as the outlook is cautious. In line with our expectation, Infosys declined the last trading session. We retain our sell recommendation in Infosys. The outlook is still negative for L&T and Reliance Capital. We reiterate our sell recommendation in these counters. Buy ONGC in dips, as long as it trades above Rs 655 level with tight stop- loss. Buy Reliance Communications in declines with stiff stop-loss at Rs 155. Initiate fresh short position if RIL tumbles below Rs 1,265, with close stop-loss. We recommend sell in TCS for the session.

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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