Day Trading Guide

by khalid on 27/10/2009 · 0 comments

ICICI Bank The stock is currently moving sideways between Rs 900 and Rs 925. Buy close to the lower boundary at Rs 900.

IDBI IDBI is consolidating around its all-time high. The outlook stays positive. Buy when the stock nears Rs 130.

IFCI IFCI recorded a strong move on Monday, closing at a new life-time high. It has broken past the near term resistance at Rs 72. Buy.

Infosys The stock is struggling to rally above the 50-day moving average positioned at Rs 1,925. Sell the stock in rallies with a stop at Rs 1,900.

L&T It has been moving sideways with low volumes over the last three trading sessions. We recommend a hold in this stock.

ONGC The stock is in a short-term down trend since August 31. Indicators in the daily chart are signalling a sell. Sell the stock as it moves below Rs 828.

Reliance Capital Trading is not recommended as long as this stock is confined between Rs 1,200 and Rs 1,250.

Reliance Communication The stock formed a hammer in the daily candlestick chart on Monday. This implies strength as buying interest is emerging at lower levels. Buy as it moves above Rs 550.

Reliance Industries The stock is struggling with the psychological resistance at Rs 2,000. Buy only on a move above this level.

Satyam Computer The near term outlook for the stock is weakening. We recommend a sell.

SBI Stay with the near-term uptrend. Buy when the stock crosses Rs 1,655.

TCS It declined sharply in the last trading session, forming an evening star in the daily candlestick chart – a reversal pattern with bearish implications. We recommend a sell in TCS.

Source : The Hindu

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