The Hindu Business Line : Day Trading Guide

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

We re-affirm our sell recommendation in DLF. ICICI Bank is experiencing selling pressure and the near-term trend is down. We recommend a sell in this counter. Desist trading in Infosys for the session. Fresh short-position can be initiated if L&T declines below Rs 1370, with tight stop-loss. We recommend a sell in ONGC as the near-term outlook is bearish. Initiate fresh short-position if Reliance Capital dives below Rs 745 and Reliance Communications slumps below Rs 250, with stiff stop. Utilise rallies to sell RIL with tight stop at Rs 1890. SBI is pausing at current levels, avoid trading in this stock for the day. Utilise rallies to short Nifty future, with stop-loss.

(The analysis and opinion expressed in these columns are based on the technical analysis of the past price behaviour. The stop-loss level provided with the recommendation is important. The original view would stand negated if the stop-loss level is breached. There is a risk of loss in trading.)

Yoganand D.

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