Today's picks

Ambuja Cement, Reliance Capital & Sail

AMBUJA CEMENT
Current Price: Rs 144,
Target Price: Rs 150 
The scrip is climbing on good volumes and testing resistance at Rs 145. If it crosses Rs 145, it could rise till Rs 150. Keep a stop at Rs 142.5 and go long. Increase the position between Rs 145.5 and Rs 146.5 and reset the stop loss to Rs 144. Start booking profits above Rs 150

RELIANCE CAPITAL
Current Price: Rs 642,
Target Price: Rs 620
The stock saw heavy selling at end of session yesterday. It has support at Rs 636. If that is broken, it could fall till Rs 620. Keep a stop at Rs 648 and go short. Increase the position between Rs 632 and Rs 635, and reset the stop to Rs 640. Start booking profits below Rs 622.

SAIL
Current Price: Rs 177.35,
Target Price: Rs 170
The stock has made a downside breakout on rising volumes. It has a potential target of Rs 170, though there’s support between Rs 175 and Rs 178. Keep a stop at Rs 180 and go short. Increase the position between Rs 174 and Rs 175 and reset zthe stop to Rs 177. Start booking profits below Rs 171.

(The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated)