Stocks

Day Trading Guide

Yoganand D. | Updated on June 02, 2011

DTG03

DLF

As long as DLF trades above Rs 231, the near-term stance stays positive. We recommend a buy with stiff stop-loss at Rs 231 levels.

ICICI Bank

On Thursday, the stock fell by three per cent with above average volumes, once more breaching its 200-day moving average. We recommend a sell in the stock with tight stop-loss at Rs 1,063 levels.

Infosys

Fresh long position can be initiated only if Infosys moves beyond Rs 2,820 levels with tight stop-loss. .

L&T

Initiate fresh long position if the stock bounces up from Rs 1,662 levels with fixed stop-loss.

ONGC

We reiterate our buy recommendation in the stock with tight stop-loss at Rs 277 levels.

Reliance Industries

Make use of dips to buy the stock while maintaining stiff stop-loss at Rs 936 levels.

SBI

Fresh long position is recommended only if the counter advances above Rs 2,350 levels with stiff stop-loss.

Tata Motors

In line with our expectation, the stock fell on Thursday. It fell 2.8 per cent accompanied by above average volumes. The near-term outlook is bearish. We re-affirm our sell recommendation in the stock with stop-loss at Rs 1,070 levels.

Tata Steel

Utilise rallies to sell the stock with tight stop-loss at Rs 582 levels.

Nifty Futures

The near-term stance remains positive as long as Nifty Futures trades above 5,510 levels. Fresh long position can be initiated if Nifty Futures reverses higher from 5,510 levels with stiff stop-loss.

Published on June 02, 2011

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