Today's picks

JP Associates, DLF, HDFC Bank

JP Associates
Current Price: Rs 108.5, Target Price: Rs 113.5

The price rise has been accompanied by volume expansion. There’s resistance between Rs 109 and Rs 110.5 but there's a potential target of Rs 113-114 if that resistance is crossed. Keep a stop at Rs 107 and go long. Add to the position between Rs 110 and Rs 111 and reset the stop to Rs 109.5. Start booking profits beyond Rs 113.

DLF
Current Price: Rs 296, Target Price: Rs 289

The stock has seen a low-volume uptrend which appears to be incapable of breaking resistance at Rs 300-301. On the downside, a slide till Rs 288-290 seems likely. Keep a stop at Rs 300 and go short. Increase the position between Rs 293 and Rs 294. Book profits below Rs 290.

HDFC Bank
Current Price: Rs 2,390, Target Price: Rs 2,350

The stock has moved up but volumes haven't been particularly good. It may not be able to break resistance at Rs 2,400 and it could correct on selling to around the Rs 2,340-2,350 mark. Keep a stop at Rs 2,400 and go short. Increase the position between Rs 2,375 and Rs 2,385. Cash out at Rs 2,350. If the Rs 2,400 stop is broken, go long with a target of Rs 2,430 and a stop loss at Rs 2,385.