Markets

Day Trading Guide

Yoganand D. BL Research Bureau | Updated on May 22, 2011 Published on May 22, 2011

DTG

DLF — Make use of dips to buy the stock with stiff stop-loss at Rs 222 levels.



ICICI Bank— Fresh long position can be initiated if the stock advances above Rs 1060 levels with stiff stop-loss.



Infosys— Initiate fresh short position only if the stock dives below Rs 2833 levels with tight stop-loss.

L&T— The near-term stance is bullish for L&T. We recommend a buy in the stock with fixed stop-loss at Rs 1630 levels.

ONGC— The near-term outlook is bearish for the counter. Make use of rallies to sell the counter while maintaining stiff stop-loss at Rs 280 levels.

Reliance Industries— Initiate fresh short position if the stock fails to move above Rs 933 levels with tight stop-loss.

SBI— We notice formation of bullish inverted hammer candlestick pattern in SBI, which signals near-term trend reversal. We recommend a buy in the stock with stiff stop-loss at Rs 2300.

Tata Motors— Fresh long position can be initiated if Tata Motors reverses up from Rs 1154 levels with fixed stop-loss.

Tata Steel— In the last trading session, the stock climbed 2.7 per cent with above average volumes. Initiate fresh long position if the stock continues to move higher and exceeds Rs 585 levels with stiff stop-loss.

Nifty Futures— Nifty Futures advanced one per cent with average volumes on Friday. Fresh long position can be initiated if Nifty futures surges above 5523 levels with tight stop-loss.

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Published on May 22, 2011
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