SHORT-TERM TRADING TIPS - Rolta India (Rs 147.6): Buy

D.YOGANAND recommend a buy in the stock of Rolta India from a short-term perspective. It is seen from the charts of the stock that it resumed its downtrend, after encountering resistance around Rs 188 in November 2010. Since then, the stock was on a medium-term downtrend until it found support at Rs 128 last week. While trending down, the stock has formed a falling wedge pattern (a bottom reversal pattern) spanning between December 2010 and early February 2011.

On February 14, the stock gained 3.6 per cent breaching its falling wedge pattern, medium-term down trend-line and its 21-day moving average. Moreover, triggered by positive divergence displayed in the daily moving average convergence divergence indicator the stock appears to have changed direction.

The daily relative strength index is on the brink of entering into the bullish zone from the neutral region and the weekly RSI has entered into the neutral region from the bearish zone. Daily MACD has signalled a buy and is inching towards positive territory. We are bullish on the stock from a short-term perspective considering its penetration of falling wedge pattern. We anticipate it to rally until it reaches our price target of Rs 152.5 or Rs 157 in the forthcoming trading sessions. Traders with a short-term perspective can consider buying the stock with stop-loss at Rs 144.

SOURCE: HINDU BUSINESSLINE

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Asahi India Glass (Rs 95.5): Buy [SHORT-TERM TRADING TIPS]

It is recommended a buy in the stock of Asahi India Glass from a short-term perspective. It is evident from the charts of the stock that since bottoming out in March 2009 after touching a low of Rs 33, the stock has been on a long-term uptrend forming higher peaks and troughs. However, following a minor corrective decline from its November 2010 peak, the stock found support at Rs 88 in December and bounced up. The stock recently took support from this short-term base of Rs 88 and bounced up again, triggered by the positive divergence displayed in the daily moving average convergence divergence indicator. Moreover, long-term uptrend-line is in tact and also provides support for the stock at Rs 88. In the past two trading sessions, the stock gained 5.8 per cent, forming a bullish engulfing candlestick pattern in the weekly chart that signals trend reversal. Both the daily and weekly relative strength indices are inching higher in the neutral region towards the bullish zone. Daily MACD has signalled a buy and is heading towards the positive territory whereas weekly MACD is featuring in this territory. We are bullish on the stock from a short-term perspective. We anticipate it to continue climbing higher until it reaches our price target of Rs 100 or Rs 102. Traders with short term perspective can consider buying the stock with stop-loss at Rs 92.



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DAY TRADING TIPS FOR 27.1.2011

DLF

Fresh long position is recommended only if the stock moves beyond Rs 260 levels with tight stop-loss.

ICICI Bank

On Tuesday, the stock tumbled 4 per cent with above average volume, experiencing selling pressure. Initiate fresh short position if the stock slips below Rs 1024 levels with tight stop-loss.

Infosys

Initiate fresh long position only if the counter moves beyond Rs 3275 levels with stiff stop-loss.

L&T

Fresh long position can be initiated if the stock bounces up from Rs 1655 levels with rigid stop-loss.

ONGC

We recommend a buy in the stock with stiff stop-loss at Rs 1115 levels.

Reliance Capital

Fresh short position is recommended only if the counter dives below Rs 567 levels with tight stop-loss.

Reliance Communications

Initiate fresh long position only if the stock climbs beyond Rs 135 levels with fixed stop-loss.

Reliance Industries

RIL is currently testing key short-term support level. Initiate fresh short position only if the stock drops below Rs 944 levels with tight stop-loss.

SBI

Fresh short position can be initiated if the stock fails to move beyond Rs 2705 levels with stiff stop-loss.

Nifty Futures

Initiate fresh long position only if Nifty futures advances above 5733 levels with stiff stop-loss.

SOURCE: HINDU BUSINESS

STOCK TRADING TIPS : SELL - SYNDICATE BANK

HINDU BUSINESS recommend a sell in the stock of Syndicate Bank from a short-term perspective. It is seen from the charts of the stock that after recording an all-time high at Rs 164 in November 2010, the stock changed direction triggered by prolonged negative divergence displayed in the daily relative strength index (RSI). Since then, the stock has been on a medium-term downtrend, forming lower troughs and peaks. The stock plummeted 8 per cent last week, breaching its long-term uptrend-line and its 200-day moving average around Rs 110. Moreover, the stock slumped 4.5 per cent on Monday, penetrating its key support level of Rs 100 and the 50 per cent Fibonacci retracement level of its earlier up move. The stock is hovering well below its 50- and 200-day moving averages. Daily RSI is in the bearish zone and weekly RSI has entered this zone from the neutral region. Both daily and weekly price rate of change indicators are in the negative territory implying selling interest. We are bearish on the stock. We anticipate its downtrend to continue until it reaches our price target of Rs 95 or Rs 92.5. Traders with short-term perspective can consider selling the stock with stop-loss at Rs 101.

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