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Utilise rallies to sell DLF with tight stop-loss at Rs 380. Initiate fresh short position if ICICI Bank declines below Rs 863 and SBI slips below Rs 2144 with stiff stop-loss. We re-affirm our sell recommendation in Infosys with stop at Rs 2674. Utilise rallies to sell L&T with stiff stop-loss at Rs 1652. ONGC slipped 3 per cent in last trading session, breaching 50-day moving average. We recommend a sell in this counter. Fresh short position can be initiated if Reliance Capital dives below Rs 880 and Reliance Communications falls below Rs 184 with tight stop-loss. We recommend a sell in RIL with stop at Rs 1095. We recommend a sell in Nifty futures as the near-term outlook is bearish.
Yoganand D., BL Research Bureau Note: In a buy recommendation, the resistances would be the targets and the nearest support would be the stop loss; In a sell recommendation, the supports would be the targets and the nearest resistance would be the stop loss; The recommendation would be valid for the day only; LTP - Last traded price (The analysis and opinion expressed in these columns are based on the technical analysis of the past price behaviour.
Yoganand D., BL Research Bureau Note: In a buy recommendation, the resistances would be the targets and the nearest support would be the stop loss; In a sell recommendation, the supports would be the targets and the nearest resistance would be the stop loss; The recommendation would be valid for the day only; LTP - Last traded price (The analysis and opinion expressed in these columns are based on the technical analysis of the past price behaviour.
