Markets

Day Trading Guide

Yoganand D. BL Research Bureau | Updated on April 06, 2011

DTG 07

DLF: Initiate fresh long position if DLF bounces up from Rs 265 levels with stiff stop-loss.

ICICI Bank: Utilise rallies to sell the stock while maintaining tight stop-loss at Rs 1113 levels.

Infosys: The stock was choppy and formed spinning top candlestick pattern on Wednesday signalling indecisiveness. Avoid trading in the stock for the day.

L&T: Initiate fresh short position if the counter reverses from Rs 1676 levels with stiff stop-loss.

ONGC: Fresh long position can be initiated only if ONGC moves beyond Rs 303 levels with tight stop-loss.

Reliance Industries: We reiterate our prior view that fresh short position can be initiated if RIL declines below Rs 1035 levels with fixed stop-loss.

SBI: SBI is currently testing its 200-day moving average. On Wednesday it was volatile and formed doji candlestick pattern indicating neutral stance. Avoid trading in the stock for the session.

Tata Motors: The near-term outlook is bullish for Tata Motors. We re-affirm our buy recommendation in the stock with stiff stop-loss at Rs 1279 levels.

Tata Steel: Fresh short position can be initiated if the stock fails to move beyond Rs 640 levels with stiff stop-loss.

Nifty Futures: Initiate fresh short position only if Nifty futures dives below 5874 levels with tight stop-loss.



Published on April 06, 2011

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