CAIRN
Current: Rs 349,
Target: Rs 358
The stock could test resistance at 354 and then at 358, if it breaks 354. If it falls below 345, it will drop to 340. Keep a stop at 345 and go long. Add to the position between 354 and 356. Start booking profits above 358. If 345 is broken, reverse and go short with a target of 340 and a stop-loss at 347.
HINDALCO
Current: Rs 190.7,
Target: Rs 184
The stock has hit a new 2011 low and could travel down till around 182-183 in a three-session timeframe. Keep a stop at 194 and go short. Increase the position between 187 and 188 and reset the stop to 191. Start booking profits below 184.
RCOM
Current: Rs 103,
Target: Rs 96
The stock tested resistance between 106 and 109 and failed to break out. It is now likely to slide till it hits support between 95 and 97. The three-session target would be 95 and a drop till 92 is possible. Keep a stop at 106 and go short. Increase the position between 99 and 101 and reset the stop to 103. Start booking profits below 97.
(The target price and projected movements given above are in terms of the next one trading session)
