BHARTI AIRTEL
Current Price: Rs 335,
Target Price: Rs 327
The stock going through a correction that should pull it down to rest support at Rs 325-328. Keep a stop at Rs 338 and go short. Increase the position between Rs 331 and Rs 333. Start booking profits below the Rs 328 level. .
IDFC
Current Price: Rs 175,
Target Price: Rs 180
The stock has risen on volume expansion and it is likely to test resistance at the Rs 180 level.; Keep a stop at Rs 173, and go long. Add to the position between Rs 177 and Rs 178. Start booking profits at Rs 180. If the stock closes above Rs 180, it could have an upside till Rs 185 so consider a three-five session position.
ONGC
Current Price: Rs 1,304,
Target Price: Rs 1,270
The stock seems to have made a downside breakout on high volumes. It could slide till it hits support at around the Rs 1,270 level. Keep a stop at Rs 1,320 and go short. Add to the position between Rs 1,290 and Rs 1,295. Start booking profits at Rs 1,270.
(The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated)
