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Tuesday, 26 February 2013

Which stocks to trade 26 Feb

Readers
Yesterday, I posted my views here in pre-market calls and below is the update.

Review of calls on 25 Feb

1. Tata Steel – Range bound between 360 and 368.
2. L&T – Sell below 1430 was my view, stock hit 1400 levels.
3. ICICI Bank – Stock bounced from the levels of 1090-85. This is still a support.
4. Bharti Airtel – Ended in negative. No long or short possible as per todays chart position.
5. DLF – Ended in negative, it is bearish now. No longs is recommended.
6. Wipro – Above 421, the stock hit 426. Still positive.

Trading Strategy for 26 Feb.

Tata Steel – Please read here for tomorrows trading strategy
L&T – Is a clear sell as long as it is below 1415 on Tuesday.
ICICI Bank – Still negative, stock is showing some support t 1090-85 levels, no convincing breakdown. Once this level is broken, please short.

Sector View – 26 Feb

IT Sector is strong in hourly and daily charts. Wipro and Infosys could be traded on long side ONLY if market recovers after gap down.
Pharma Sector is looking very strong. Ranbaxy may be traded from the long side tomorrow ONLY if market recovers after gap down.

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