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DLF is experiencing selling pressure at higher levels. Utilise rallies to sell the stock with tight stop at Rs 386. Initiate fresh short-position if ICICI Bank tumbles below Rs 885 and SBI dives below Rs 2,289, with stiff stop-loss. In the last trading session Infosys has formed a doji candlestick indicating neutral stance, avoid trading in this counter. As long as L&T trades above Rs 1,633, it has the possibility of moving higher levels. We recommend a buy with stiff stop at Rs 1,633. We recommend a sell in ONGC with stop at Rs 1,186. Fresh short-position can be initiated if Reliance Capital slips below Rs 850 and RIL declines below Rs 2,154 with tight stop-loss. We re-affirm our prior view of utilising dips to buy Reliance Communications with stop at Rs 168. Desist trading in Nifty futures as the outlook is cautious.

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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