Bharti Airtel
Current price: Rs 340
Target price: Rs 325
The stock has started testing stiff resistance just above yesterday's close. If it cross 343, it could move till 350. If it cannot break 343, it will drop to test support at 325 again. Keep a stop at 344 and go short. Increase the position between 330-333. Start booking profits at 325.
BankNifty
Current price: 11,134.7
Target price: 11,450
If the financial index breaks resistance at 11200, it could rise till 11450-11500 level. On the downside, it could fall till support at 10950 and if it drops lower, it could fall till 10650. Keep a stop at 11,050 and go long. Increase the position above 11200 and move the stop upto 11150. Start booking profits above 11450. If the BN falls below 10950, go short with a target of 10700 and a stop at 11025.
LIC Hsg
Current price: Rs 200,
Target price: Rs 208
The stock has moved up on high volumes, breaking a key resistance yesterday at 197. It has a potential upside till around the 208-210 levels. Keep a stop at 196 and go long. Increase the position between 202-204. Start booking profits above 208.
(The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated)
