ICICI BANK
Current price: Rs 1,133,
Target price: Rs 1,100
The stock closed weak yesterday though it held above support at Rs 1,125. It could slide till the Rs 1,100 mark today if the support is broken. Keep a stop at Rs 1,145 and go short. Increase the position between Rs 1,115 and Rs 1,120 and reset the stop to Rs 1,125. Start booking profits around the Rs 1,100-mark. .
RELIANCE INDUSTRIES
Current price: Rs 1,069,
Target price: Rs 1,100
The stock is in an uptrend and testing resistance at Rs 1,070-1,075. If it crosses that level, it could have a target of Rs 1,100-1,110. Keep a stop at Rs 1,060 and go long. Increase the position between Rs 1,075 and Rs 1,080. Start booking profits above the Rs 1,100 mark.
TATA MOTORS
Current price: Rs 1,152,
Target price: Rs 1,130
The stock has made an apparent upside breakout but it has low volumes. It could have an upside till Rs 1,175 if it crosses above Rs 1,160. However, if there is selling pressure today, it could also drop till the Rs 1,130 levels. Keep a stop at Rs 1,160 and go short. Increase the position between Rs 1,145 and Rs 1,148. Start booking profits below Rs 1,130.
(The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated)
