The Hindu Business Line : Day Trading Guide

DLF is experiencing selling pressure at higher levels. Initiate fresh short-position if the counter declines below Rs 223, with tight stop-loss. Desist trading in ICICI Bank for the session. The near-term outlook is bearish for SBI. We recommend a sell. Utilise rallies to sell Infosys stock with tight stop-loss at Rs 1600. Fresh short-position can be initiated if L&T dives below Rs 955 and Reliance Capital tumbles below Rs 551, with tight stop-loss. In line with our prior expectations, ONGC and Reliance Communications declined in the last trading session. We re-affirm our sell in these two counters. The near-term stance is cautious of RIL. Avoid trading in this counter. Nifty future is consolidating sideways, desist trading in it for the day.

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 day only; LTP - Last traded price

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