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We reiterate our sell recommendation in DLF. ICICI Bank is experiencing selling interest and SBI has formed a bearish engulfing candlestick pattern. We recommend a sell in these counters. Initiate fresh short-position if Infosys plummets below Rs 1625, with stiff stop-loss. L&T is moving sideways around Rs 1400. Initiate fresh short-position if the stock dives below Rs 1382, with tight stop-loss. Utilise rallies to sell ONGC with stiff stop at Rs 1185. Fresh short-position can be initiated if Rel Cap declines below 945, with stiff stop loss. Rel Com is testing key resistance at Rs 340, desist trading. We recommend a sell in RIL as the near-term outlook is bearish. Nifty future was choppy in the last trading session. Fresh short-position can be initiated if it slips below 4480, with tight stop loss.

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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