DLF
DLF moved higher in line with our expectation on Wednesday. It increased 2.8 per cent with above average volumes. We reiterate our buy recommendation in the stock with tight stop-loss at Rs 228 levels.
The stock broke out of its near-term sideways trading range by gaining 3.7 per cent accompanied by good volume on Wednesday. We recommend a buy in the stock with stiff stop-loss at Rs 1,026 levels.
Infosys
Initiate fresh long position only if the stock surges above its 200-day moving average positioned around Rs 3,010 with tight stop-loss.
L&T
Fresh short position can be initiated only if the stock drops below Rs 1,520 levels with stiff stop-loss.
ONGC
Initiate fresh long position only if ONGC jumps above Rs 277 levels with stiff stop-loss.
Reliance Industries
We recommend buy in the RIL with tight stop-loss at Rs 995 levels.
SBI
Make use of dips to buy the counter while maintaining fixed stop-loss at Rs 2,626 levels.
Tata Motors
Fresh long position can be initiated only if the stock bounces up from Rs 1,117 levels with tight stop-loss.
Tata Steel
Initiate fresh long position only if Tata Steel exceeds above Rs 618 levels with tight stop-loss.
Nifty Futures
Nifty Futures is facing significant short-term resistance at 5,550 levels. Fresh long position is recommended only if Nifty Futures advances beyond this level with stiff stop-loss.