Stocks

Day Trading Guide

Yoganand D. BL Research Bureau | Updated on May 17, 2011

DTG18

DLF

Fresh short position can be initiated if the stock fails to move above Rs 232 levels with stiff stop-loss.

ICICI Bank

We recommend a sell in the sock with tight stop-loss at Rs 1,055 levels.

Infosys

Initiate fresh long position only if the stock bounces up from Rs 2,825 levels with fixed stop-loss.

L&T

Fresh long position is recommended only if the stock climbs above Rs 1,516 levels with stiff stop-loss.

ONGC

In line with our expectation the stock declined in the last trading session. The near-term stance remains bearish as long as the stock trades below Rs 284 levels. Make use of rallies to sell the stock with fixed stop-loss.

Reliance Industries

The stock resumed its short-term downtrend by declining 2.5 per cent in the last trading session. Initiate fresh short position if the stock fails to move above Rs 935 levels with tight stop-loss.

SBI

On Tuesday, SBI plunged 7.8 per cent accompanied by extraordinary volumes. The near-term outlook is bearish. We continue to hold our sell recommendation in the stock with stop-loss at Rs 2,435 levels.

Tata Motors

Fresh short position is recommended only if the counter dives below Rs 1,178 levels with stiff stop-loss.

Tata Steel

Fresh long position can be initiated only if Tata Steel advances beyond Rs 582 levels with tight stop-loss.

Nifty Futures

Nifty Futures has key support at 5,400 levels. Initiate fresh long position if Nifty Futures reverses up from 5,400 levels with stiff stop-loss.

Published on May 17, 2011

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