Week Ahead: Short covering could give a boost

MACRO TECHNICALS

 HDFC
Current price: Rs 2722.95
Target price: Rs 2950

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 The stock has collapsed from the Rs 3200 level within the last five sessions. It looks as though it has reached reasonable support and is due to bottom out. The upside on a bounce could be as much as Rs 2950. Keep a stop at Rs 2710 and go long.

 IFCI
Current price: Rs 76.85
Target price: Rs 65

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 Massive selling has driven the stock down from Rs 120 to current levels within the past five sessions. There is a potential downside till about Rs 65. Keep a stop at Rs 82 and go short. Cover below Rs 67. The long-term trend of the scrip may have changed to negative