LANCO INFRATECH
Current Price: 62.4
Target Price: 65.5 The stock is trending up on large volumes. Its difficult to project a target with the pattern but it should have an upside till around 65-66. Keep a stop at 61 and go long. Increase the position between 63.5-64. Start booking profits above 65. Consider a long May future with a trailing stop loss 3 units below the price if you wish to hold a position for more than one session.
POWERGRID CORP
Current Price: 113
Target Price: 117
The stock has surged past a resistance at 111 on very good volume action. It has a pattern that suggests a target in the range of 117-118. Keep a stop at 112 or 111.5 and go long. Add to the position beyond 114.5. Start booking profits above the 117 level.
TATA STEEL
Current Price: 647.5
Target Price: 630-635
The stock has shown a falling pattern from the 700-level in mid-April. It is falling along a low trendline and seems to have broken a support at around 648-9. The downside could be till the 630 level tough it would be more conservative to assume support at 635. Go short, keep a stop loss at 653. Book 50 per cent profit at 635 and reset the stop loss to 640. Clear the position at 630.
(The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated.)
