Date:27/08/2008 URL: http://www.thehindubusinessline.com/2008/08/27/stories/2008082752521501.htm

Back Day Trading Guide

ICICI Bank

The stock is in sideways consolidation. Desist trading in this counter for the session.

Infosys

The stock is experiencing selling pressure at higher levels. We recommend sell in this counter.

L&T

Fresh long-position can be initiated, only if the stock moves above Rs 2,640 level, with tight stop-loss.

ONGC

The stock has formed a spinning top candlestick pattern, indicating indecisiveness. Desist trading in this counter for the session.

Reliance Capital

In the last trading session, the stock moved up forming a bullish engulfing candlestick pattern. We recommend buy with a stop-loss at Rs 1,273.

Reliance Communications

The stock is pausing around Rs 400 level. Utilise dips to buy the stock with a stop-loss at Rs 398.

Reliance Industries

On Tuesday, the stock declined 2 per cent, accompanied with high volume. The near-term outlook is bearish for the stock. We retain our sell recommendation in this counter.

Satyam Computer

Initiate fresh long-position, if the stock exceeds Rs 414, with tight stop-loss.

SBI

Sell the stock in rallies, while maintaining a stiff stop-loss at Rs 1,397 level.

TCS

Avoid trading in this counter for the session.

Yoganand D.