Current price: Rs 656
Target price: Rs 635
The scrip has seen heavy selling that has pushed it down from the Rs 715 level in the past two sessions. Support at Rs 635 is liable to be tested. Keep a stop at Rs 662 and go short. Increase the short between Rs 645 and Rs 650. Start booking profits below Rs 635. If the Rs 662 stop loss is broken, note that the scrip could jump to Rs 675 so be prepared to reverse and take a long position with a stop at Rs 660.
Target price: Rs 815
The stock has made a breakout with some volume expansion above the previous resistance of Rs 785. It should have a target of somewhere between Rs 815 and Rs 820. However, there was selling pressure late in Thursday’s session. Keep a stop at Rs 795 and go long. Increase the position between Rs 807 and Rs 810. Above Rs 815, start booking profits. If the Rs 795 stop is broken, consider a short since the next support is at Rs 785.
Current price: Rs 513
Target price: Rs 535
The stock is consolidating above good support at around Rs 500. It is testing resistance at the current level and has the potential to rise till at least the Rs 535-540 mark if it breaks out above Rs 517. Keep a stop at Rs 505 and go long. Increase the position between Rs 517 and Rs 520. Start booking profits above Rs 535. If you wish to hold overnight, reset the stop loss to Rs 528 and look for a target of Rs 550.
The target price and projected movements given above are in terms of the next one trading session unless otherwise stated