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We reiterate our sell recommendation in DLF and Rel Cap. Experiencing further selling pressure, ICICI Bank and SBI fell in the previous session, closing below their 21-day moving averages. We retain our sell in these counters. Infosys penetrated its key support level of Rs 1,200 with above average volume in the last trading day. We recommend a sell. Initiate fresh short-position if RComm declines below Rs 156 and RIL tumbles below its key support level at Rs 1,250, with stiff stop-loss. Utilise rallies to sell ONGC, with tight stop-loss at Rs 687. Desist trading in L&T for the session. On Tuesday, Nifty 1-M Future opened with a downward gap, penetrating its 21-day moving average. We reaffirm our sell recommendation.

Yoganand D.

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