Trading desk

Cipla, JP Associates, & Tata Steel

Cipla
Current Price: Rs 365,
Target Price: Rs 376

The stock has made a breakout on high volumes. It should have an upside till the Rs 375-380 zone. Keep a stop at Rs 360 and go long. Increase the position between Rs 371 and Rs 373 and reset the stop loss to Rs 369. Start booking profits above Rs 375

JP Associates
Current Price: Rs 113,
Target Price: Rs 120

The stock is rebounding from a recent low of Rs 98. It cxould test resistance at around Rs 120 if the uptrend continues for a fourth session. Keep a stop at Rs 109 and go long. Increase the position between Rs 116 and Rs 117 and reset the stop to Rs 115. Start booking profits above Rs 120 Tata Steel
Current Price: Rs 614,
Target Price: Rs 589

The stock has bounced from recent lows of Rs 575. It's hitting heavy resistance at current levels. A reaction back to test support at Rs 585-600 is possible. Keep a stop at Rs 620 and go short. Increase the position between Rs 602 and Rs 605 and reset the stop loss to Rs 610. Start booking profits below Rs 590. If Rs 620 is broken, consider a long position with a stop loss at Rs 615 since the upside would be Rs 635.

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