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Utilise rallies to sell DLF, with tight stop at Rs 279. Fresh short-position can be initiated if ICICI Bank declines below Rs 620 and SBI tumbles below Rs 1520, with stiff stop-loss. We recommend a buy in Infosys. The near-term stance is bearish for L&T and Reliance Capital. We recommend a sell in these counters. ONGC is testing support at Rs 980. We recommend a buy with tight stop at Rs 980. Utilise rallies dips to buy Reliance Communications with tight stop at Rs 231. Desist trading in RIL as the outlook is watchful. Nifty future was choppy and formed spinning top candlestick pattern on Monday. The near-term outlook is cautious avoid trading in it for the session.

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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