TATA MOTORS
Current Price: Rs 822
Target: Rs 805, 825 There’s not much support to this reaction until the Rs 805-810 level. But you can expect some short-covering and a lot of volatility. Prices could range between Rs 800 and Rs 830 and end towards the upper side. Initially, keep a stop at Rs 825 and go short. Below Rs 805, reverse the position and go long with a stop at Rs 800 and target of Rs 825.
ICICI BANK
Current Price: Rs 919.5
Target: Rs 890 The stock has down-trended and this could continue on Thursday. There’s support at Rs 910-920. Below Rs 910, the stock could drop till Rs 890. Carryover has been strong and may not have much effect. Most traders have moved to May series. Keep a stop at Rs 930 and go short. Increase the position below Rs 910. Clear the position below Rs 895.
(The target price and projected movements given above are in terms of the next one trading session unless otherwise stated)
