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Day Trading Guide

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DLF

We reiterate our sell recommendation in DLF.

ICICI Bank

Utilise rallies to sell the stock while maintaining tight stop-loss at Rs 902 levels.

Infosys

We recommend a sell with stop-loss at Rs 2,640.

L&T

We restate our buy recommendation in L&T as the near-term stance is positive.

ONGC

Contrary to our expectations the stock moved up in the last trading session. Initiate fresh long position only if the stock surges above Rs 1,060 levels with fixed stop-loss.

Reliance Capital

We reiterate our sell recommendation in Reliance Capital with stop at Rs 688 levels.

Reliance Communications

The stock is witnessing buying interest at lower levels. Utilise dips to buy the stock with stiff stop-loss at Rs 143.

Reliance Industries

Fresh short position is recommended if RIL drops below Rs 1,005 level with stiff stop-loss.

SBI

Fresh long position can be initiated if the stock moves above Rs 2,295 with tight stop-loss.

Nifty Futures

Nifty futures experienced a volatile trading session on Tuesday and formed spinning top candlestick pattern signalling indecisiveness. Initiate fresh short position only if Nifty futures dives below 5,018 levels with tight stop-loss.

Yoganand D.

BL Research Bureau

(This article was published in the Business Line print edition dated May 19, 2010)
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