TRADING TIPS 20OCT TO 24OCT 2008

RELIANCE(1306): Opinion is negative with sell mode.
Things do not look encouraging for this stock in short to medium term.
Immediate resistances for the week would be 1433, 1478 and 1523 but the signals are pointing towards more downside. A close above 1478 is needed this week to turn things positive for itself in the near term though, medium term would still remain negative until gives a close above 1850. A close below 1248 would be fateful for this stock. Then it would be headed towards the band between 950-850 medium to long term.


SBIN(1419): Opinion is neutral with positive bias.
Some negative divergence is starting to appear in momentum indicators but it still has sufficient strength left to maintain its 1250 levels on closing basis. Immediate supports are at 1400, 1348 and 1181. But a close below 1348 would imply that it could remain sideways between 1200 and 1600 for a few more weeks. On the other hand, a close above 1590 would take it to 1800 levels in medium term. Existing longs should hold with stop at 1250. Fresh longs be initiated only on a close above 1590 or on a rise from lower levels of 1250.


INFOSYSTCH(1203): Outlook is sideways within a range of 300 points.
Quarterly results were up to the expectations that there is still sufficient steam left in this counter though, for a long term perspective. But for near to medium term it is springing up mixed signals on the charts.
Immediate support is at 1182 and then 1040. But it should keep closing above 1100 levels to remain neutral and buoyant. Otherwise, a close below 1100 would drag it lower towards 950 levels. On the upside 1415 would be its upper range for short term.