Bharti Airtel
Current Price: Rs 319,
Target Price: Rs 310
The stock has plunged from Rs 340 in the last four sessions. It is likely to test support at Rs 305-310. Keep a stop at Rs 324 and go short. Add to the position between Rs 315 and Rs 317 and reset the stop to Rs 319. Start booking profits below Rs 310.
JP Associates
Current Price: Rs 83,
Target Price: Rs 80
The stock crashed to a new low on heavy volumes. It’s likely to fall further. Target setting is difficult given the lack of recent price history, but the Rs 79-80 level may be tested. Keep a stop at Rs 85 and go short. Add to the position between Rs 81.5 and Rs 82.5 and book profits below Rs 80.
Siemens
Current Price: Rs 853,
Target Price: Rs 885
The stock’s surged on huge volume due to the open offer at Rs 930 and there’s room for further upmoves till the Rs 885-890 level. There’s support at Rs 830-835. Keep a stop at Rs 835 and go long. Increase the position between Rs 860 and Rs 870 and reset the stop to Rs 855. Book profits at Rs 885.
(The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated)