HINDALCO
Current Price: Rs 178
Target Price: Rs 184
The stock has found support amid heavy trading between 170-175 and has started to move up again. It should have a target of about 184 on the upside and there's one potential resistance at around 182. Keep a stop at 175 and go long. Book partial profits at 181 and reset the stop to 179. Clear the entire position above 184.
ICICI BANK
Current Price: Rs 921.25
Target Price: Rs 900
The banking sector is likely to come under selling pressure on Tuesday due to RBI's credit policy. ICICI has a potential downside till at least 900 level in terms of intra-day lows. It could close higher at around Monday's 920-925 level if the credit policy is received well. Or, it may close lower in the 885-890 range. Keep a stop at 925 and go short. Start booking profits below 905. If you want to hold a position below 900, reset the original stop loss to 905.
DLF
Current Price: Rs 317
Target Price: Rs 295
The stock has seen heavy selling, which is likely to continue. It has support in the 295-305 range and it's likely to test that support intra-day. The pattern suggests a close at around 300. Keep a stop at 323 and go short. You can increase the short position if the stock starts trading between 310-313. Start booking profits below 300 and reset the stop loss to 305. Clear the position at 295.
Disclaimer: All these trading positions are with the perspective of one session (April 20) only
