Reliance
Current price: Rs 942,
Target price: Rs 965
The stock is bouncing on reasonable volumes. It could test resistance in the 965-970 zone today. Keep a stop at 925 and go long. Add to the position between 950-955. Start booking profits above 965. If the 925 stop is broken, there’s a chance RIL could drop back till 900, so be prepared to go short with a target of 905 and a stop at 930.
DLF
Current price: Rs 239.7
Target price: Rs 231
The stock made a downmove on high volumes. If it breaks support at 238, it will probably test 230-231. Keep a stop at 243 and go short. Between 235 and 237, add to the position. Start booking profits below the 232 mark. The five-session target would be 220.
GMR Infra
Current price: Rs 42.5,
Target price: Rs 45
The stock has risen on high volumes after bottoming at 29.5 on February 8. It has a potential target of 44.5- 45 and it could move further over 3-5 sessions. Keep a stop at 41 and go long. Add to the position between 43.5 and 44. Start booking profits above 44.5. If you can hold till Friday, look for a target of 47.
(The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated)
