The Hindu Business Line : Day Trading Guide

Utilise rallies to sell the stock of DLF with tight stop-loss at Rs 387. Fresh long position can be initiated if ICICI Bank surpasses Rs 930 and SBI exceeds Rs 2374, with stiff stop-loss. Fresh long position can be initiated if Infosys exceeds Rs 2414 and L&T surges above Rs 1670, with tight stop-loss. Fresh short position can be initiated if ONGC drops below Rs 1160 and RIL tumbles below Rs 2106, with tight stop. Reliance Capital jumped 7 per cent, with extraordinary volume on Tuesday. We recommend a buy. Utilise dips to buy Reliance Communications with stop–loss at Rs 171. We re-affirm our buy recommendation in Nifty futures with tight stop-loss at 5010.

Note:In a buy recommendation, the resistances would be the targets and the nearest support would be the stop loss; In a sell recommendation, the supports would be the targets and the nearest resistance would be the stop loss; The recommendation would be valid for the day only; LTP - Last traded price.

(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.)

Yoganand D

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