StatoilHydro to scale down product trading activity
Norwegian oil and gas company StatoilHydro has decided to scale down its product trading activity.
``For today, let us track Sensex at 17,100-17,250 with extension of gains into 17,250-17,350 to attract profit-booking sales and ``short`` initiation. The near term trade strategy would be to ``sell`` in two lots at 17,250-17,300 and 17,400-17,450 with stop above 17,500/5,250. It is also good risk-reward to ``buy`` in two lots at 17,000-17,050 and 16,850-16,900 with stop below 16,700/5,000,`` said J. Moses Harding, head -- Global Markets Group, IndusInd Bank while commenting on the outlook.