Trading desk

RIL, HCL Tech & Mundra Port

RIL
Current price: Rs 1,082,
Target price: Rs 1,100

The stock has made an upside breakout on the basis of high volumes. The pattern suggests a possible rise till around the Rs 1,100 mark. Keep a stop at Rs 1,072 and go long. Increase the position between Rs 1088 and Rs 1,092 and reset the stop to Rs 1,082. Above Rs 1,100, book profits. If the Rs 1,072 stop is broken, there's a chance of the stock sliding back to Rs 1,050.

HCL Tech
Current price: Rs 423.6,
Target price: Rs 412

The stock has made a downside breakout on higher volumes. The chart suggests a fall till Rs 410 is likely but there's support slightly higher at Rs 412-413. Keep a stop at Rs 428 and go short. Increase the position between Rs 418 and Rs 420 and reset the stop to Rs 422. Start booking profits below Rs 413.

Mundra Port
Current price: Rs 174,
Target price: Rs 182

The stock has jumped on a strong volume expansion. It will run into selling pressure above Rs 180. Keep a stop at Rs 172 and go long. Increase the position between Rs 176 and Rs 178. Start booking profits above the Rs 181 mark. If the Rs 172 stop is broken, consider a short with a target of Rs 165 and stop loss at Rs 174.

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