Tata Steel
Current Price: Rs 576
Target Price: Rs 595
The stock appears to have bottomed, finding support in the Rs 555-565 zone and rebounding on high volumes in the past two sessions. It could make a technical recovery till the Rs 595-600 zone. High volatility is likely. Keep a stop loss at Rs 565 and go long. Start booking profits above the Rs 593 level and reset the stop-loss to Rs 590 if you wish to hold beyond Rs 595.
Infosys Tech
Current Price: Rs 2,663.5
Target Price: Rs 2,645-2,700 (range-trading)
The stock has found support at Rs 2,645 and it could move up and test resistance at Rs 2,700 again. The likely movement will be range-trading between Rs 2,645 and Rs 2,700, though it's difficult to judge which end of the range the stock is likely to close at. Use Rs 2,675 as a “pivotal” stop loss. If the stock opens above Rs 2,675, go long with a target of Rs 2,700. If it opens below Rs 2,675, go short with a target of Rs 2,645. In either case, reverse position if the stop is broken.
JP Associates
Current Price: Rs 133.5
Target Price: Rs 140
The stock has slipped on heavy selling but found support at around Rs 131. The last two sessions have seen a turnaround in the trend on fairly strong volume action. We could see a technical recovery till around the Rs 140 mark. Keep a stop at Rs 130 and go long. Book profits above Rs 140.
