Thursday, 20 November 2008

Day Trading Guide 2 - November 21, 2008


A short-term support is at Rs 305 level for the stock. Buy the stock in dips with tight stop-loss at Rs 305 level.


Utilise rallies to sell the stock with tight stop-loss at Rs 1,180.


Initiate fresh short-position if the stock declines below the October low of Rs 680 with tight stop-loss.


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

Reliance Capital

In line with our expectation, the stock declined by 7 per cent, accompanied with high volume on Thursday. We reiterate our sell recommendation.

Reliance Communications

We re-affirm our sell recommendation.

Reliance Industries

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

Satyam Computer

The stock is currently testing the key support level of Rs 220. Buy the stock in dips with tight stop-loss at Rs 220.


The stock is witnessing selling pressure at higher levels. Sell the stock in rallies while maintaining stiff stop-loss at Rs 1,170.


We recommend a sell.

Source: TheHinduBusinessLine

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.