Date:17/06/2008 URL: http://www.thehindubusinessline.com/2008/06/17/stories/2008061752251500.htm

Back Day Trading Guide

ICICI Bank

Initiate fresh long-position only if the stock moves above Rs 817, with tight stop.

Infosys

The stock is experiencing selling pressure at higher levels. Sell the stock when it reverses for Rs 1,950 level with tight stop.

L&T

The stock has formed a gravestone doji pattern indicating bearish. We recommend a sell.

ONGC

Utilise rallies to sell the stock with stiff stop-loss at Rs 882.

Reliance Capital

The stock is consolidating sideways in a narrow range. Avoid trading for the day.

Reliance Communications

Fresh short-position can be initiated if the stock declines below Rs 528, with tight stop.

Reliance Industries

The stock is currently testing resistance at Rs 2,300 level. Initiate fresh long-position if the stock exceeds Rs 2,305 level with stiff stop.

Satyam Computer

On Monday the stock was volatile and formed a doji candlestick indicating neutral stance. Desist trading in this counter for the session.

SBI

We recommend a sell in this counter.

TCS

The near-term outlook for the stock is bearish. We recommend a sell.

Yoganand D.

BL Research Bureau

(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)