Today's picks

Reliance Inds, DLF, Hindalco

Reliance Inds.
Current Price: Rs 1,037,
Target Price: Rs 1,075
The stock has seen an uptrend develop with strong volume expansions. It could run up till the Rs 1,070 levels today and till Rs 1,100 in a three-session timeframe. Keep a stop at Rs 1,015 and go long. Add to the position between Rs 1,050 and Rs 1,060 and reset the stop to Rs 1,040. Start booking profits above Rs 1,070. If you hold for Rs 1,100-plus targets, reset the stop loss to Rs 1,050 and take partial profits at Rs 1,070-1,075.

DLF
Current Price: Rs 221,
Target Price: Rs 209
The stock saw selling on substantial volumes and it’s likely to test support near the 52-week low at Rs 208-209 in a three-session timeframe. Keep a stop at Rs 224 and go short. Increase the position between Rs 216 and Rs 219 and reset the stop to Rs 222. Start booking profits below Rs 210.

Hindalco
Current Price: Rs 204,
Target Price: Rs 195
The stock has shown signs of persistent weakness and it’s likely to test support at Rs 195 within the next three sessions. Keep a stop at Rs 207 and go short. Increase the position between Rs 200 and Rs 202 and reset the stop-loss to Rs 204. Start booking profits below Rs 196.

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