Trading desk

Wipro, Sesa Goa

Wipro
Current: Rs 408,
Target: Rs 397
The stock is intriguingly poised with strong resistance at Rs 409-410. A drop till Rs 395-400 is possible, with next support at Rs 390. Keep a stop at Rs 412 and go short. Below Rs 404, increase the position and reset stop to Rs 407. Book profits below Rs 400. If Rs 412 is broken, a rise till Rs 420 is possible. So, reverse to a long position with a stop at Rs 410.

Sesa Goa
Current: Rs 354,
Target: Rs 365
The stock has bounced on strong volumes. It has selling pressure at Rs 360. If it passes Rs 360, it could rise till Rs 367. Keep a stop stop at Rs 352 and go long. At Rs 359-360, you can either book partial profit and reset the stop to Rs 357. Or, if you are optimistic, increase the position and reset stop loss to Rs 357 with a target of Rs 365.

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