Date:12/10/2007 URL: http://www.thehindubusinessline.com/2007/10/12/stories/2007101252221701.htm

Back Day Trading Guide

ICICI Bank

The stock moved past the resistance at Rs 1,076. We revise our recommendation to a buy.

Infosys

Infosys tumbled 6 per cent backed by heavy volumes on Thursday. It has also formed a bearish engulfing candlestick pattern; a short-term reversal pattern. Sell the stock on rallies with a stop at Rs 2,035.

L&T

L&T is consolidating at higher levels. Buy it in corrections with a stop loss at Rs 3,298.

ONGC

As anticipated in our last column, the stock has made life time high with good volumes support. We maintain our buy recommendation.

Reliance Capital

The stock reversed after an intra-day correction on Thursday. Buy the stock if it moves beyond Rs 1,860.

Reliance Comm

The stock gained in the last session, contrary to our view. Buy in dips with stop loss at Rs 726.

Reliance Ind

The stock is currently forming a flag pattern-a continuation pattern. We recommend a buy.

Satyam Computer

In the last session, the stock recorded a steep decline, penetrating the short term up trend line. But it is close to key short-term support. Buy it with a stop loss at Rs 440.

SBI

The stock is hovering near its life time high and the short term trend is bullish. Buy in dips with tight stop loss at Rs 912.

TCS

TCS too is halting above key support at Rs 1,060. Buy the stock if it holds this support level.

Yoganand D.

BL Research Bureau

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 today’s trading only.