Castrol
Current price: Rs 191.2
Target price: Rs 195
Obviously, this is a defensive stock but there seems to be good trading opportunities. Castrol is seeing a lot of intra-day fluctuations with selling pushing the stock down to around the Rs 185 levels. It has an excellent support at this level which reduces the downside risk from here.
But there is also a strong resistance at Rs 194. Buy towards the bottom end of this zone and take profits at the top. Keep a stop at Rs 183.
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Indian Hotels
Current price: Rs196.8
Target price: Rs 225
The stock shot up post-Budget and rebounded from the Rs 225 mark where there is a strong resistance. It has solid support between Rs 186-196 and the long-term pattern remains bullish. Minimum targets in the next two months are around Rs 225. The stock will test this resistance.
Accumulate inside the Rs 186-196 zone. But the given the girm market conditions, the long position will probably have to be held for around six weeks.
Infosys
Current price: Rs 4022
Target price: Rs 3900
There is strong support at Rs 3900 and projected downside targets also land in that region. The 4000 Put is priced at Rs 90. There is strong upside resistance at around Rs 4090. The 4000 Call is priced at Rs 120.
Sell both and the position fetches Rs 210. That is profitable with the stock anywhere between Rs 3800-4200. So it's probably a good trade. The April future also looks a good buy at around Rs 4050.
Zee Telefilms
Current price:Rs 73
Target price: Rs 68
The stock has seen heavy selling which has pulled it down close to its lows of August 2001. The world cup has taken its toll on the company