Date:30/07/2008 URL: http://www.thehindubusinessline.com/2008/07/30/stories/2008073051201700.htm

Back Day Trading Guide

ICICI Bank

On Tuesday, the stock plunged 8 per cent on heavy volume. Fresh short-position can be initiated if the stock declines below Rs 592 with stiff stop-loss.

Infosys

We recommend a sell in this counter with tight stop at Rs 1,556.

L&T

In line with the broad market sell-off, the stock tumbled 6 per cent with above average volume. Initiate fresh short-position if the stock falls below Rs 2,513 level with tight stop-loss.

ONGC

The outlook is cautious for the stock. Desist trading in this counter for the session.

Reliance Capital

Following a watchful outlook, the stock declined in the last trading session reinforcing bearishness. We recommend a sell.

Reliance Communications

Initiate short-position only if the stock declines below Rs 481 with tight stop-loss.

Reliance Industries

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

Satyam Computer

In the last trading session, the stock was volatile and formed doji candlestick pattern indicating neutral stance. Avoid trading in this stock for the session.

SBI

The stock declined in line with our expectation in the last trading session.

TCS

Desist trading in this stock for the day.

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)