TRADING DESK

ICICI Bank,RPower,Suzlon

ICICI BANK
Current Price: Rs 860, Target Price: Rs 845
One possibility is that the stock will test resistance at around the 865-mark. If it breaks the 865 barrier it could rise till around 880-mark. The other possibility is that it will slide on selling till around the 845-mark. This seems more likely. Keep a stop at 865 and go short with a target of 845. If the 865 stop is broken, consider reversing the position and going long.

RPOWER
Current Price: Rs 177.5, Target Price: Rs 185
There was huge volume expansion driving the stock close to the 2010 high. The delivery ratio has fallen so there’s a speculative element to the rise. Nevertheless, the pattern suggests a move till the 185-190 zone. Keep a stop at 174 and go long. Either book profits at 185 or reset the stop loss to 183 and hold for three sessions with a target of 190.

SUZLON
Current Price: Rs 56.8, Target Price: Rs 60
The stock is developing a bottoming formation with high volumes and a saucer formation. The pattern projects to a target of around 60. Keep a stop at 55 and go long. Increase the position between 57.5 and 58.5. Above 59, start booking profits. If you can hold a futures position for three sessions, reset the stop loss to 59 and aim for a target of 63.

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