Date:09/09/2008 URL: http://www.thehindubusinessline.com/2008/09/09/stories/2008090952081500.htm

Back Day Trading Guide

Yoganand D

ICICI Bank

Initiate fresh long-position only if the stock exceeds Rs 739, with stiff stop-loss.

Infosys

The stock is experiencing selling pressure at higher levels. Utilise rallies to sell the stock with stop-loss at Rs 1,789.

L&T

In the last trading session, the stock lost most of its intra-day gains, witnessing selling pressure. Fresh short-position can be initiated if the stock declines below Rs 2,700 level with tight stop-loss.

ONGC

Fresh long-position can be initiated if the stock surpasses Rs 1,114 level with tight stop-loss.

Reliance Capital

Sell the stock in rallies with stop-loss at Rs 1,400.

Reliance Communications

The stock is consolidating sideways in a narrow range. Desist trading in this counter for the session.

Reliance Industries

The counter has formed a gravestone doji candlestick pattern, indicating bearishness. We recommend a sell.

Satyam Computer

We recommend a buy in this stock.

SBI

The stock is currently testing the key resistance level of Rs 1,600. Initiate fresh long-position if the stock moves above Rs 1,614, with close stop-loss.

TCS

On Monday, the stock was choppy and formed a spinning top candlestick pattern that signals indecisiveness. Avoid trading in this counter for the day.

(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.)