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Fresh short-position can be initiated if DLF declines below Rs 310, with tight stop-loss. ICICI Bank is witnessing selling interest at higher levels. Utilise rallies to sell the counter with stiff stop at Rs 749. Infosys is pausing, as long as it trades above Rs 1745 the outlooks stays positive. We recommend a buy with tight stop at 1745. Initiate fresh short-position if L&T slips below Rs 1480 and Reliance Capital tumbles below Rs 880, with tight stop-loss. We recommend a sell in ONGC and RIL as the near-term stance is bearish. Utilise rallies to sell Reliance Communications and SBI, while maintaining stiff stop. The near-term outlook is bearish for Nifty future. We recommend a sell.

Yoganand D.

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