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Initiate fresh long position only if DLF exceeds Rs 427, with tight stop-loss. ICICI Bank is facing key resistance at Rs 761. Utilise rallies to sell this stock with stiff stop at Rs 761. We re-affirm our sell recommendation in SBI. In line with our expectations, Infosys declined in the last trading session. The near-term outlook is bearish for the stock. We reiterate our ‘sell’ recommendation. Fresh long-position can be initiated if L&T surpasses Rs 1,470 and Reliance Capital moves above Rs 1,058, with tight stop-loss. Utilise rallies to sell ONGC with stiff stop at Rs 1,185. Initiate fresh long position if Reliance Communications penetrates Rs 450 and RIL surges above Rs 2,280, with tight stop-loss. We recommend a buy in Nifty with tight stop at 4,537.

Yoganand D.

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