TRADING DESK

Hindalco, Reliance Ind, Tata Motors

HINDALCO
Current Price: Rs 144, Target Price: Rs 150
The stock has developed a bottoming formation and looks set to move up. With a 2-session perspective, it should have a target of 150 and maybe slightly more. Keep a stop at 141 and go long. Beyond 147, you can increase the position and reset the stop loss to 146. Start booking profits above the 150-mark.

RELIANCE INDUSTRIES
Current Price: Rs 1,064, Target Price: Rs 1,100
The stock broke out past key resistance at 1,050. It has a target in the 1,100-region with some resistance at 1,070. Keep a stop at 1,055 and go long. Increase the position between 1,070-1,075. Start booking profits beyond 1,090 intra-day. If you are prepared to hold for three sessions, look for a target of 1,150. On the downside, if RIL drops below support 104, it will slide till 1010.

TATA MOTORS
Current Price: Rs 760, Target Price: Rs 780
The stock is stabilising above good support at 755 and testing resistance above 770. It has a good chance of touching 785 on intra-day basis if it can climb above 772 Keep a stop at 756 and go long. Add to the position beyond the 772-mark and reset the stop loss to 771. Start booking profits beyond the 780 mark

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