Aban Offshore
Current Price: Rs 1,017
Target Price: Rs 980
There was late selling on high volumes, which pushed the price down to a key support just above Rs 1,000. If it opens low on Friday, the stock could drop till around the Rs 980 mark. Keep a stop at Rs 1,030 and go short. Increase the position below Rs 1,005. Either clear the position below Rs 985 or book partial profits and reset the stop loss to Rs 990.
Ashok Leyland
Current Price: Rs 68.5
Target Price: Rs 72
The stock has been generating extremely high volumes and it has gained substantially in the past few sessions. An intra-day target of about Rs 72 is possible. Keep a stop at Rs 67 and go long. Start booking profits above the Rs 71 mark. The stock could rise considerably further if its held for another five sessions, or even till settlement. But target generation is not possible with this pattern.
LIC Housing
Current Price: Rs 984
Target Price: Rs 1,015
The stock is in a new zone after a jump on high volumes and pattern projection is uncertain due to a lack of price history. Long-term patterns suggest a target of Rs 1,050 is possible inside the next 20 sessions. On Friday, the stock is likely to see some selling above Rs 990. But it could push past that barrier and reach the Rs 1,015 mark. Keep a stop at Rs 975 and go long.
(Devangshu Datta — The target price and projected movements given above are in terms of the next one trading session unless otherwise stated)
