BHARTI AIRTEL
Current Price: Rs 322,
Target Price: Rs 314
Heavy selling led to a support being broken and there could be a downside till around the Rs 312 level today. On the upside, short covering could push values till around the Rs 330 mark. Keep a stop at Rs 324 and go short. Increase the position between Rs 316 and Rs 318. Start booking profits below Rs 314.
SESA GOA
Current Price: Rs 331,
Target Price: Rs 342
The stock recovered from a low of Rs 324 yesterday on short covering. It could rise till around Rs 342 if the short covering continues. On the downside, if Rs 324 is broken, the next support is Rs 319. Keep a stop at Rs 328 and go long. Increase the position between Rs 335 and Rs 337. Start booking profits above Rs 341.
NTPC
Current Price: Rs 198,
Target Price: Rs 192
The stock saw heavy selling that pushed prices below critical support. It could fall further, till around Rs 191-192 if the selling continues. Short covering would mean a bounce till Rs 205. Keep a stop at Rs 202 and go short. Increaser the position between Rs 194 and Rs 195. Start booking profits below Rs 192.
(The target price and projected movements given above are in terms of the next one trading session)