DAY TRADING TIPS FOR 18.01.2011

DLF — Make use of rallies to sell the stock with stiff stop-loss at Rs 257 levels.

ICICI Bank — Desist trading as the near-term stance is cautious.

Infosys — Contrary to our view, the stock bounced up 2 per cent in the last session. Fresh long position is recommended only if the stock exceeds above Rs 3290 levels with tight stop-loss.

L&T — The stock witnessed choppy trading on Monday. Initiate fresh long position only if the stock moves beyond Rs 1700 levels with stiff stop-loss.

ONGC — Fresh short position can be initiated if the stock declines below Rs 1159 levels with stiff stop-loss.

Reliance Capital — The stock tumbled 6.5 per cent with good volume on Monday. The near-term stance is bearish. We recommend a sell with rigid stop-loss at Rs 587 levels.

Reliance Communications — We recommend a sell in the counter with stiff stop-loss at Rs 134 levels.

Reliance Industries — We re-affirm our view that fresh short position can be initiated only if the stock drives below Rs 986 levels with tight stop-loss.

SBI — SBI is finding base around Rs 2490 levels. Initiate fresh long position if the stock bounces up from Rs 2490 level with tight stop-loss.

Nifty Futures — Nifty futures was volatile in the last trading session. Fresh long position can be initiated only if Nifty futures moves beyond Rs 5700 levels with stiff stop-loss.

SOURCE: HINDU BUSINESS