Day Trading Guide 1 - November 25, 2008

ICICI Bank

The stock is hovering just above the support level of Rs 305. Utilise the declines to buy the stock while maintaining tight stop-loss at Rs 305.

Infosys

Initiate fresh long-position only if the stock exceeds Rs 1,218 level, with stiff stop-loss.

L&T

The near-term outlook is cautious for the stock. Desist trading in this counter for the day.

ONGC

As long as the stock trades above Rs 660, the outlook remains positive. We recommend a buy with tight stop-loss at Rs 660.

Reliance Capital

After recording a 52-week low of Rs 405 recently, the stock has been gradually trending up, with good volume. We are positive on the stock and recommend a buy.

Reliance Communications

Fresh long-position can be initiated if the stock moves beyond Rs 212, with tight stop-loss.

Reliance Industries

In the last trading session, the stock was choppy and formed a dragonfly doji candlestick pattern indicating bullishness. We recommend a buy.

Satyam Computer

Initiate fresh short-position if the stock penetrates the support level Rs 220, with tight stop-loss.

SBI

The stock is experiencing selling pressure at higher levels. Utilise rallies to sell the stock with tight stop-loss at Rs 1178.

TCS

Sell the stock in rallies with tight stop-loss at Rs 550.

Source: TheHinduBusinessLine