DAY TRADING GUIDE FOR 22.12.2010

YOGANAND RECOMMENDS FROM HINDU :

DLF

Initiate fresh long position only if the stock bounces up from Rs 279 levels with tight stop-loss.

ICICI Bank

We recommend a buy in the stock with stiff stop-loss at Rs 1,122 levels.

Infosys

Make use of dips to buy the stock while maintaining stiff stop-loss at Rs 3,311 levels.

L&T

Desist trading in the counter as the near-term view is watchful.

ONGC

The near-term outlook stays bearish as long as ONGC stays under Rs 1,316 levels. We re-affirm our sell recommendation with tight stop-loss at Rs 1,316 levels.

Reliance Capital

Initiate fresh short position only if the stock drops below Rs 630 levels with rigid stop-loss.

Reliance Communications

Fresh long position can be initiated if the counter bounces up from Rs 125 levels with stiff stop-loss.

Reliance Industries

We recommend a buy in the stock with tight stop-loss at Rs 1,057 levels.

SBI

Fresh long position is recommended if SBI advances above Rs 2,766 levels with tight stop-loss.

Nifty Futures

As long as Nifty Futures hovers above 5,967 levels, the near-term stance remains positive. Utilise dips to buy Nifty futures with stiff stop-loss at 5,967 levels.



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Day Trading Guide for 20/12/2010

BUY - SHREE RENUKA SUGARS

Investors with medium-term perspective can consider buying the stock of Shree Renuka Sugars (Rs 91.1).

Following a steady decline from January 2010 peak of Rs 123, the stock found support in the range of Rs 50 and Rs 53, a key longer-term support, in May 2010.

Triggered by positive divergence displayed in the daily oscillators, the stock changed direction. Since May, the stock has been on an intermediate-term uptrend forming higher peaks and higher troughs. Moreover, the stock took support from its 200-day moving average and intermediate-term uptrendline around Rs 73 on November 26 and subsequently bounced up strongly, gaining 19 per cent last week with above weekly average volume.

The stock breached a key medium-term resistance level as well as 50-day moving average positioned at Rs 88 on Friday accompanied with good volume.

The 14-day relative strength index, which determines the speed and alteration of price movements, has moved to the neutral region from the bearish zone.

The weekly RSI is rising in the neutral region towards the bullish zone. The daily average convergence divergence oscillator is on the verge of re-entering into the positive territory from the negative territory whereas the weekly oscillator is steadily rising in the positive territory implying upward momentum.

The daily price rate of change indicator is on the brink of entering positive territory while the weekly indicator is featuring in this territory, signalling buying interest.

The stock's intermediate-term uptrendline is intact and we are bullish from a medium-term perspective.

We believe that Shree Renuka Sugars has the possibility to move higher to our price target of Rs 104 in the approaching weeks. Investors with medium-term perspective can consider buying the stock with stop-loss at Rs 84.5.

(This recommendation is based on technical analysis. There is a risk of loss in trading.)

Yoganand D.

BL Research Bureau

DAY TRADING TIPS FOR 5.12.2010

DLF

Make use of rallies to sell the stock with tight stop-loss at Rs 312 levels.

ICICI Bank

Fresh short position can be initiated only if the stock falls below Rs 1,168 levels with fixed stop-loss.

Infosys

Make use of dips to buy the stock while maintaining tight stop-loss at Rs 3,105 levels.

L&T

We recommend a buy in the stock with stiff stop-loss at Rs 2,000 levels.

ONGC

Initiate fresh long position if the stock bounces up from Rs 1,302 with tight stop-loss.

Reliance Capital

Fresh long position is recommended only if the stock climbs above Rs 719 levels with rigid stop-loss.

Reliance Communications

Initiate fresh short position if Reliance Communications dives below Rs 137 levels with stiff stop-loss.

Reliance Industries

As long as RIL hovers above Rs 992, the near-term stance stays positive. We recommend a buy in the stock with tight stop-loss at Rs 992 levels.

SBI

Initiate fresh long position if the counter jumps above Rs 3,093 levels with stiff stop-loss.

Nifty Futures

Fresh long position can be initiated only if Nifty Futures moves beyond 6053 levels with tight stop-loss.

DAY TRADING TIPS FOR 5.12.2010

DLF

Make use of rallies to sell the stock with tight stop-loss at Rs 312 levels.

ICICI Bank

Fresh short position can be initiated only if the stock falls below Rs 1,168 levels with fixed stop-loss.

Infosys

Make use of dips to buy the stock while maintaining tight stop-loss at Rs 3,105 levels.

L&T

We recommend a buy in the stock with stiff stop-loss at Rs 2,000 levels.

ONGC

Initiate fresh long position if the stock bounces up from Rs 1,302 with tight stop-loss.

Reliance Capital

Fresh long position is recommended only if the stock climbs above Rs 719 levels with rigid stop-loss.

Reliance Communications

Initiate fresh short position if Reliance Communications dives below Rs 137 levels with stiff stop-loss.

Reliance Industries

As long as RIL hovers above Rs 992, the near-term stance stays positive. We recommend a buy in the stock with tight stop-loss at Rs 992 levels.

SBI

Initiate fresh long position if the counter jumps above Rs 3,093 levels with stiff stop-loss.

Nifty Futures

Fresh long position can be initiated only if Nifty Futures moves beyond 6053 levels with tight stop-loss.

SHORT-TERM TRADING TIPS - IVRCL Infrastructures (Rs 133.8): Buy

We recommend buying the stock of IVRCL Infrastructures and Projects from a short-term perspective. It is evident from the charts of the stock that it has been on an intermediate-term downtrend forming lower peaks and lower troughs from its October 2009 peak of Rs 212. Since its July 2010 peak of Rs 194, the stock has been on a medium-term downtrend. In early November, the stock broke through a significant long-term support at Rs 150 and was on an accelerated short-term downtrend. However, the presence of longer-term key support at Rs 120 arrested the stock's decline recently. Moreover, positive divergence displayed in the daily relative strength index has triggered the stock to change direction. On December 1, the stock surged 9 per cent accompanied with good volume. This upmove prolonged on Thursday with gains of 2.4 per cent. The daily RSI has entered in to the neutral region from the bearish zone and weekly RSI is on the verge of entering into neutral region from the bearish zone. We notice formation of a bullish engulfing candlestick pattern in weekly chart, which is a reversal pattern. Daily moving average convergence divergence oscillator has signalled a buy. From a short-term perspective, we are bullish on the stock. We expect the stock's upmove to continue until it hits our price target of Rs 138 or Rs 142 in the forthcoming trading sessions. Traders with short-term perspective can buy the stock with stop-loss at Rs 129.5.