ICICI BANK
Current price: Rs 979
Target price: Rs 955
The stock made a downside breakout that predicts a potential target of 945-955 or 930 if you're looking at 3-5 sessions. Keep a stop at 995 and go short. Increase the position between 965-970. Start booking profits below 950-955. If the 995 stop loss is broken, the scrip could jump back to 1020 so be prepared to reverse in a hurry.
NTPC
Current price: Rs 180
Target price: Rs 185
The stock hgas bounced on short covering off its 52-week low of 175. Though the move isn't strong, it could last till around the 185-186 mark. Keep a stop at 176 and go long. Add to the position between 181-182. Start booking profits above 185.
MAHINDRA & MAHINDRA
Current price: Rs 669
Target price: Rs 695
The stock shows signs oif bottoming above its recently established 52-week low of 661. It could climb till around 695 on short covering. Keep a stop at 661 and go long. Increase the position between 673-680. Start booking profits above 695.
(The target price and projected movements given above are in terms of the next one trading session)
