TRADING DESK

JP ASSOCIATES
Current Price: RS 152.5
Target Price: RS 158

The stock has made a small upwards breakout on volume expansion. It will hit some resistance at 155 but has the strength to hit 158 or even 160 on an intra-day basis. Keep a stop at 150 and go long. Book 50 per cent profits at 155 and reset the stop to 154. Clear the position above 158.

RELIANCE INDUSTRIES
Current Price: Rs 1,075.75
Target Price: RS 1,095

The stock looks bullish and capable of hitting targets between 1,090-1,100. A normal long position could be taken with a stop loss at 1,065. In that case, book partial profit at 1,090 and reset the stop loss to 1,085. Another way is to take a bullspread with a long 1080 call (premium19.3) and a short 1,100 call (13.3). This costs a maximum of about 6 per share (RIL lot =300) and offers a potential maximum payoff of 14.

 

YES BANK
Current Price: RS 268.95
Target Price: RS 259

The stock is reacting from higher levels and volume has sharply reduced. There's some support only around 263-264. That could be broken, leading to a drop till around 259. Keep a stop at 271 and go short. At 264, cover 50 per cent of the position and reset the stop loss to 266. Clear the position below 260.