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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

The near-term stance stays bearish as long as DLF trades below Rs 350. Utilise rallies to sell the stock with tight stop at Rs 350. Fresh short-position can be initiated if ICICI Bank decline below Rs 772 and SBI tumbles below Rs 2080, with stiff stop-loss. We recommend a sell in Infosys as the short-term trend is down. Initiate fresh short-position if L&T slips below Rs 1504 and ONGC drops below Rs 1105, with tight stop-loss. Utilise rallies to sell Reliance Capital and Reliance Communications with tight stop at Rs 720 and Rs 171 respectively. We recommend a sell in RIL as the outlook is negative. The near-term outlook is bearish for Nifty futures. We recommend a sell.

Yoganand D.

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