The Hindu Business Line : Day Trading Guide

Contrary to our prior view, the stock moved up in the last session and is consolidating sideways. Fresh long position can be initiated if the stock moves above Rs 1,500, with tight stop loss.

L&T

In the last trading session, the stock lost its initial gains and it is experiencing selling pressure at higher levels. We maintain our sell recommendation.

ONGC

The volatility of the stock continued on Wednesday. Initiate fresh short position only if the stock declines below Rs 1,000, with close stop loss.

Reliance Capital

We continue with our sell recommendation.

Reliance Communications

Sell the stock in rallies with a stop-loss at Rs 540.

Reliance Industries

After testing a resistance at around Rs 2,425, the stock began to decline in the last session and closed the session below its 200-day moving average. We recommend a sell.

Satyam Computer

Desist trading in this counter for the session.

SBI

On Wednesday, the stock formed a doji pattern, which is almost similar to a gravestone doji pattern. We reaffirm our sell recommendation.

TCS

Sell the stock in rallies with stop-loss at Rs 880.

Yoganand D.

BL Research Bureau

(The analysis and opinion expressed in these columns are based on the technical analysis of the past price behaviour. The stop-loss level provided with the recommendation is important. The original view would stand negated if the stop-loss level is breached. There is a risk of loss in trading)

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