Date:30/09/2008 URL: http://www.thehindubusinessline.com/2008/09/30/stories/2008093051781500.htm

Back Day Trading Guide

ICICI Bank

On Monday, the stock plummeted 12 per cent with heavy volume, penetrating the key support level of Rs 515 and recording its 52 week low. We recommend a sell in this counter.

Infosys

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

L&T

Initiate fresh short position only if the counter declines below Rs 2,300 level, with stiff stop-loss

ONGC

The stock was choppy and formed a spinning top candlestick pattern indicating indecisiveness in the last trading session.

Reliance Capital

We recommend a sell in this stock.

Reliance Communications

Sell the stock in rallies with tight stop-loss at Rs 345.

Reliance Industries

Fresh short-position can be initiated if the stock breaches Rs 1,900 level with stiff stop-loss.

Satyam Computer

We recommend a sell in this stock for the session.

SBI

The stock has conclusively closed below its 50-day moving average. We recommend a sell.

TCS

The daily relative strength index of the stock has entered the oversold territory. Buy the stock in dips with stop-loss at Rs 600.

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)