Trading desk

JP Associates, PowerGrid & Bharti Airtel

JP Associates
Current: Rs 130.4,
Target: Rs 140 The stock has resistance just above the current price but it also has a bullish formation with strong volume action. If it crosses Rs 132, it could have a ride till Rs 140. Keep a stop at Rs 128 and go long. Increazse the position between Rs 132 and Rs 134. Start booking profits beyond the Rs 139 mark.

PowerGrid
Current: Rs 112,
Target: Rs 115

The stock has made a breakout on high volumes and completed a bullish saucer formation. It has a potential target of Rs 115-plus. Keep a stop at Rs 110.5 and go long. Increase the position between Rs 113 and Rs 114. Start booking profits above Rs 115

Bharti Airtel
Current: Rs 353,
Target: Rs 345

Persistent selling has oulled the stock back from the Rs 375 levels. It has support at Rs 350, but if that is broken, it could drop till around Rs 344-345. Keep a stop at Rs 356 and short. Increase the position between Rs 349 and Rs 350. Start booking profits below the Rs 345 mark.

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