Trading desk

Axis Bank,Infosys & Tata Motors

Axis Bank
Current Price: Rs 1,252
Target Price: Rs 1,280

The stock has made a turnaround after several losing sessions — the future (1,261) was settled at a premium to the spot. It has some resistance at 1,265 but if that is beaten, it could test 1,280. Keep a stop at 1,245 and go long. Increase the position above 1,265. Start booking profits beyond 1,278. On the downside, if the stop at 1,245 is triggered, the next support is at 1,235.

Infosys
Current Price: Rs 2,785
Target Price: Rs 2,820

The stock is seeing some speculative bullishness ahead of its Q1 results, which are due soon. It has some resistance at 2,800 but if it passes that, it could target 2,820. Keep a stop at 2,775 and go long. Increase the position between 2,800 and 2,805. Book profits above 2,820. On the downside, if 2,775 is broken, the stock could slide till 2,745 so there would be a case for going short.

Tata Motors
Current Price: Rs 768
Target Price: Rs 795

The stock appears to have established a bottoming formation yesterday. It has a potential upside till the 790-795 mark. Keep a stop at 762 and go long. Between 773 and 778, increase the long position. Start booking profits between 790 and 795. If you wish to hold a position above 795, there could be a target of 820 by Friday-close. However, reset the stop loss to 785.

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