Date:28/08/2008 URL: http://www.thehindubusinessline.com/2008/08/28/stories/2008082852441501.htm

Back Day Trading Guide

ICICI Bank

Fresh short-position can be initiated, if the stock declines below Rs 639, with tight stop-loss.

Infosys

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

L&T

The stock’s 50-day moving average is at Rs 2,545. Initiate fresh short-position, if the stock decline below Rs 2,545, with stiff stop-loss.

ONGC

Utilise rallies to sell the stock with tight stop-loss at Rs 1,025.

Reliance Capital

Desist trading in this counter for the session.

Reliance Communications

Negating our view, the stock declined in the last trading session. The relative strength index has entered into the bearish zone. We recommend a sell.

Reliance Industries

In line with our expectation, the stock declined in the last trading session. We notice high volume over the past two sessions. We re-affirm our sell recommendation.

Satyam Computer

Sell the counter in rallies with stiff stop-loss at Rs 417.

SBI

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

TCS

We recommend a sell.

Yoganand D.

BL Research Bureau