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Initiate fresh long position in DLF only if the stock moves beyond Rs 395, with tight stop-loss. Negating our prior view ICICI Bank moved up in the last trading session. Fresh long position can be initiated if the stock exceeds Rs 938, with stiff stop-loss. On Wednesday, accompanied with volume Infosys experienced buying interest. Utilise dips to buy this counter with tight stop at Rs 2287. The near-term stance is positive for L&T. We recommend a buy. Avoid trading in ONGC for the session. Initiate fresh long position if Reliance Capital surpasses Rs 850 and Reliance Communications moves above Rs 176, with tight stop-loss. We recommend a buy in RIL. We reiterate our buy recommendation in SBI with stiff stop at Rs 2354. Nifty futures has conclusively breached its 21- and 50-day moving averages on Wednesday. We recommend a buy.

Yoganand D.

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