ABAN
Current Price: Rs 1,235
Target Price: Rs 1,215
A lot of short covering ahead of the settlement pushed the price back up from support at around Rs 1,215-1,220. The stock is likely to ease down again, and will hit resistance at around Rs 1,240. Keep a stop at Rs 1,242 and go short. Cover the position below Rs 1,220.
HERO HONDA
Current Price: Rs 1,889
Target Price: Rs 1,855
The stock has made a technical recovery on low volumes after a sell-off. It has strong resistance at Rs 1,900 and it’s likely to test support in the Rs 1,855 zone again. Keep a stop at Rs 1,895 and go short. Increase the short position between Rs 1,875-1,880. Start clearing the position below Rs 1,860.
UNITECH
Current Price: Rs 85.5
Target Price: Rs 92
The stock seems to have made an upside breakout on volume expansion. The upside could be till around the Rs 92 level. Keep a stop at Rs 83 and go long. Increase the position between Rs 87 and Rs 88. Start clearing the position above Rs 91. Alternately keep a trailing stop loss at Rs 83 and go long. Increase the stop by three units for every three-unit price rise.