HDFC
Current: Rs 664,
Target: Rs 680
The stock has a potential upside till Rs 680 today. Keep a stop at Rs 658 and go long. Add to the position between Rs 668 and Rs 672. Start booking profits above Rs 680 or book partial profits and reset the stop loss to Rs 675. If the Rs 658 stop is broken, the scrip could drop back to Rs 642, with some chance of support at Rs 652.
JP Associates
Current: Rs 88,
Target: Rs 83
The stock hit a new low today on high trading volumes. Difficult to set a target but the breakout could push the stock down to Rs 81-82 while a pullback on short covering would end at around Rs 93. Keep a stop at Rs 91 and go short. Add to the position between Rs 86.5 and Rs 87.5 and reset the stop to Rs 88.5. Start booking profits below Rs 83 If the stop at Rs 91 is broken, go long with a target of Rs 93.
Reliance Infra
Current: Rs 738,
Target: Rs 712
It's difficult to set a target in the kind of panic situation that has led to the fall in this stock. However, it is likely to test support at Rs 710-715 again and it could manage a recovery to around Rs 755-760 on short covering. Keep a stop at Rs 745 and go short. Add to the positionbetween Rs 725 and Rs 730 and reset the stop to Rs 735. Book profits below Rs 713.
(The target price and projected movements given above are in terms of the next one trading session)
