DLF
Current price: Rs 225.5,
Target price: Rs 214
The stock's entered a zone of major resistance. If it can climb above 228, it will hit 233. But if it cannot, it's likely to drop till between 212-215 mark over the next 3-5 sessions . Keep a stop at 228 and short. Increase the position between 219-222. Start booking profits below 215.
RELIANCE
Current price: Rs 994,
<>B>Target price: Rs 1,025
The stock is testing resistance between 995-1005 and it generated a lot of volume yesterday. If it moves above 1005, it could hit a target of 1025. Keep a stop at 980 and go long. Increase the position between 1005-1010. Start booking profits above 1023.
SAIL
Current price: Rs 155,
Target price: Rs 150
The stock has made what looks like a temporary recovery on short covering with high volumes. The long-term and intermediate trends look bearish. It could react from resistance at the 157-158 levels to slide back till around 150. Keep a stop at 158 and go short. Increase the position between 152 – 153.5. Start booking profits below 151. If 158 is broken, the stock could rise till 162.
(The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated)
