Trading desk

Power Grid, SBI & TCS

POWER GRID
Current Price: Rs 104,
Target Price: Rs 109
The stock bounced on heavy volumes. If it rises above resistance at Rs 105, it will probably touch Rs 110. On the downside, it could lose ground until about Rs 95, and there's pressure due to FPO band of Rs 85-90. Tentatively, keep a stop at Rs 102 and go long. Buy more between Rs 105 and Rs 106. Book profits above Rs 109. If the Rs 102 stop is broken, go short with a target of Rs 98 and a stop loss at Rs 105.

SBI
Current Price: Rs 3,272,
Target Price: Rs 3,200
A sharp reaction from recent highs of Rs 3,500 on massive volumes. The downside could last till support at around Rs 3,190-3200 is hit. Keep a stop at Rs 3,290 and go short. Increase the position between Rs 3,250 and Rs 3,260. Book partial profits at Rs 3,220 and reset the stop to Rs 3,330. Clear the position below Rs 3,200.

TCS
Current Price: Rs 1,091,
Target Price: Rs 1,115
The stock continues to run in the bullish trend with a volume pickup. It has a potential target of between Rs 1,110 and Rs 1,120 today. Keep a stop at Rs 1,082 and go long. Increase the position between Rs 1,099 and Rs 1,105. Start booking profits above Rs 1,115.

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