The Hindu Business Line : Day Trading Guide

DLF tumbled 8 per cent in the last trading session witnessing selling interest. We recommend a sell in this counter as the near-term outlook is bearish. Fresh short position can be initiated if ICICI Bank dives below Rs 710 and SBI slips below Rs 1725, with tight stop-loss. We re-affirm our sell recommendation in Infosys. Utilise rallies to sell L&T with stiff stop at Rs 1590. Initiate fresh short-position if ONGC plunges below Rs 1055, with tight stop-loss. We reiterate our sell recommendation in Reliance Communications. Fresh short-position can be initiated if Reliance Capital declines below Rs 884 and RIL tumbles below Rs 2000, with tight stop-loss. Nifty future is experiencing selling interest. We recommend a sell.

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

(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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