HINDUSTAN UNILEVER
Current price: Rs 233, Target price: Rs 241
The stock is hitting strong resistance, but it also seems to have broken out of an eight-session downtrend with reasonable volume. There could be an upside till around the Rs 243 level, or at least till Rs 240. Keep a stop at Rs 230 and go long. Increase the position above Rs 236. Book profits above Rs 240.
STERLITE
Current price: Rs 644, Target price: Rs 665
The downtrend that started in late April from Rs 840 and bottomed at Rs 600 this Tuesday may have ended, temporarily. The negative trend-line from the Rs 840 to Rs 600 has been broken. Fibonacci calculations suggest a rebound till Rs 680-690 levels. There's resistance at Rs 650. But, if that is broken, the stock could move till Rs 670+ in one session. Keep a stop at Rs 630 and go long. Increase the position above Rs 650 and book profits above Rs 665.
TCS
Current price: Rs 742, Target price: Rs 760
The stock has made a good recovery from Rs 685 levels on strong volumes. It has an upside till around Rs 760 with a potential resistance at Rs 750. Keep a stop at Rs 730 and go long. Increase the position beyond Rs 750 and reset the stop-loss to Rs 745. Start booking profits above Rs 758.
(The target price and projected movements given above are in terms of the next five trading sessions unless otherwise stated.)
