SBI
Current Price: Rs 2,429
Target Price: Rs 2,490
The scrip rallied on a RBI policy that was less harsh than feared. It is likely to test resistance between Rs 2,465 and Rs 2490 Wednesday although it will probably settle at the lower end of that zone. Keep a stop at Rs 2,410 and go long. Above Rs 2,465, book a partial profit and reset the stop loss to Rs 2,455. Clear the position above Rs 2,490.
DLF
Current Price: Rs 320
Target Price: Rs 308
Although the scrip rose yesterday, it has completed a pattern of lower highs and lower lows. It is likely to slide and test support at Rs 313. If Rs 313 is broken, it could drop till Rs 308. Keep a stop at Rs 325 and go short. Book a partial profit at Rs 313 and reset the stop to Rs 316. Clear the position below Rs 310.
L&T
Current Price: Rs 1,854
Target Price: Rs 1,825
The stock has made a breakout below key support at Rs 1,875 and it could be expected to fall further. The one-session target would be about Rs 1,825 and the 3-session target could be around Rs 1,800. Keep a stop at Rs 1,870 and short. Increase the position between Rs 1,840 and Rs 1,845. Start booking profits below Rs 1,828. If you hold overnight look for a target of Rs 1,800 and reset the stop to Rs 1,835.
The target price and projected movements given above are in terms of the next one trading session unless otherwise stated