The Hindu Business Line : Day Trading Guide

After encountering key resistance at around Rs 745, the stock lost its intraday gains in the last trading session. Fresh short-position can be initiated if the stock declines below Rs 690, with tight stop.

Infosys

The stock is testing resistance level of Rs 1,700 and has formed a doji candlestick pattern, indicating neutral stance. Avoid trading in this counter as the outlook is watchful.

L&T

We retain our buy recommendation in this stock.

ONGC

The near-term outlook remains positive as long as the counter trades above Rs 1,002. Buy the stock in dips with stop-loss at Rs 1,002.

Reliance Capital

The stock has formed a dark cloud cover candlestick pattern, signalling negative. We recommend a sell.

Reliance Communications

In the previous trading session, the stock witnessed selling pressure and formed a gravestone doji candlestick pattern. We maintain our sell recommendation.

Reliance Industries

Sell the stock in rallies with stop at Rs 2,350.

Satyam Computer

Initiate fresh-short position only if the stock declines below Rs 398 level, with stiff stop.

SBI

On Wednesday, the stock fell 3 per cent and shaped dark cloud cover candlestick pattern signifying bearishness. We recommend a sell.

TCS

Desist trading in this counter for the session.

Yoganand D.

BL Research Bureau

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