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Day Trading Guide


DLF moved up in the last trading session negating our prior view. Buy the stock in dips as long as it trades above Rs 162, with tight stop-loss. Utilise rallies to sell ICICI Bank and SBI while maintaining stiff stop-loss. We reiterate our sell recommendation on Infosys. Fresh long position can be initiated if L&T surpasses Rs 650, with tight stop. We recommend a sell on ONGC, Reliance Capital and Reliance Communications as the stocks are witnessing selling interest at higher levels. Initiate short position if RIL declines below Rs 1310, with stiff stop-loss. Nifty future has formed a gravestone doji candlestick pattern signalling bearishness. We recommend a sell.

Yoganand D.

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 today; LTP - Last traded price

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