Comments
DLF
Near-term outlook is bearish for DLF. We recommend a sell in the stock with stiff stop-loss at Rs 181 levels.
ICICI Bank
We recommend a sell in the stock with fixed stop-loss at Rs 833.
Infosys
Fresh long position can be initiated with stiff stop-loss only if the stock bounces up from Rs 2189 levels.
L&T
As long as the stock trades below Rs 1546, the near-term outlook stays bearish. Fresh short position can be initiated with tight stop-loss if the stock reverses down from Rs 1546 levels.
ONGC
Initiate fresh short position with tight stop-loss if ONGC drops below Rs 274 levels.
Reliance Industries
Experiencing selling pressure the stock fell 4.6 per cent with above average volumes on Friday. Fresh short position can be initiated with fixed stop-loss if the stock reverses down from Rs 731 levels.
SBI
The stock is testing key support level. Fresh long position is recommended with stiff stop-loss only if the stock climbs beyond Rs 1910 levels.
Tata Motors
Initiate fresh short position with tight stop-loss only if the counter declines below Rs 690 levels.
Tata Steel
The near-term outlook is bearish for the stock. Make use of rallies to sell the stock while maintaining tight stop-loss at Rs 430 levels.
Nifty Futures
On Friday, Nifty Futures tumbled 1.9 per cent breaching a key support level at 4800 levels. Initiate fresh short position with stiff stop-loss only if Nifty futures fails to move beyond 4800 levels.
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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