DAY TRADING TIPS FOR 1.12.2010

DLF

We recommend a buy in the stock with stiff stop-loss at Rs 299 levels.

ICICI Bank

Fresh long position can be initiated if the stock climbs above Rs 1160 levels with tight stop-loss.

Infosys

The stock was volatile in the last trading session and formed spinning top candlestick pattern, signaling indecisiveness. Avoid trading in the stock.

L&T

Initiate fresh short position if the stock fails to move beyond Rs 1967 levels with tight stop-loss.

ONGC

We recommend a buy in ONGC with stiff stop-loss at Rs 1227 levels.

Reliance Capital

Desist trading in the stock as the near-term stance is cautious.

Reliance Communications

After recording an all-time low the stock bounced up and formed bullish engulfing candlestick pattern on Tuesday, it gained 3.4 with above average volume. Fresh long position can be initiated if the stock moves above Rs 134 levels with fixed stop-loss.

Reliance Industries

Fresh short position can be imitated only if RIL slips below Rs 970 levels with stiff stop-loss.

SBI

In line with our expectation, the stock moved up in the last trading session. It jumped 4 per cent with good volume. We reiterate our buy recommendation with tight stop-loss at Rs 2965 levels.

Nifty Futures

As long as Nifty futures trades above 5850 levels, it has possibility to head higher. We recommend a buy with strict stop-loss at 5850 levels.

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