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Initiate fresh long position only if DLF surpasses Rs 403 with stiff stop-loss. ICICI Bank and SBI witnessed buying interest in the last trading session. Fresh long position is recommended if ICICI Bank exceeds Rs 900 and SBI breaches Rs 2340, with tight stop-loss. Fresh long position can be initiated if Infosys moves above Rs 2250, with close stop. Utilise dips to buy L&T and ONGC while maintaining tight stop at Rs 1575 and Rs 1154 respectively. We recommend a buy in Reliance Capital with stiff stop at Rs 795. The near-term outlook is bearish for Reliance Communications. We recommend a sell in this stock. Utilise dips to buy RIL with tight stop at Rs 2000. As long as Nifty futures trades above 4848 level, the outlook stays positive. We recommend a buy with tight stop at 4848.

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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