Day Trading Guide

October 13, 2011:��

DLF

Fresh short position can be initiated with tight stop-loss only if the stock reverses downwards from Rs 244 levels.

ICICI Bank

Initiate fresh long position with fixed stop-loss only if the stock rebounds up from Rs 869 levels.

Infosys

Initiate fresh short position with stiff stop-loss if the stock fails to move above Rs 2,712 levels.

L&T

Fresh short position is recommended with tight stop-loss only if L&T slips below Rs 1,403 levels.

ONGC

We recommend a sell in the counter with tight stop-loss at Rs 268 levels.

Reliance Industries

We re-state our prior view of initiating fresh long position with fixed stop-loss only if RIL advances above Rs 860 levels.

SBI

Fresh short position can be initiated with tight stop-loss only if the stock dives below Rs 1,860 levels.

Tata Motors

On Thursday, the stock fell three per cent with above average volumes and formed a bearish engulfing candlestick pattern signalling downward reversal. We recommend a sell in the stock with stop-loss at Rs 179 levels.

Tata Steel

As long as Tata Steel trades above Rs 444, its near-term stance remains positive. Fresh long position can be initiated with stiff stop-loss if the stock reverses higher from Rs 444 levels.

Nifty Futures

Fresh short position is recommended with tight stop-loss only if Nifty Futures drops below 5,030 levels.

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