Educomp
Current price: Rs 553.65
Target price: Rs 535
The rally in the stock has turned very speculative. Volumes have dropped and delivery ratios have also dropped. The futures settled at an appreciable discount to the cash close. A pullback to the Rs 535 level is likely. Keep a stop at Rs 560 and go short. Increase the position below Rs 550 and clear the position below Rs 537.
Idea
Current price: Rs 53.45
Target price: Rs 57
A sharp rally in telecom stocks started on Wednesday and we may see this sector doing well for a couple more sessions. Idea has a target of about Rs 57 and it may go further in a two-session perspective. Keep a stop at Rs 52 and go long. Increase the position above Rs 54.5. Start booking profits beyond Rs 56.5.
L&T
Current price: Rs 1,631.5
Target price: Rs 1,660
The stock is testing a major resistance. It has developed decent volumes, both in cash and futures. The minimum target would be Rs 1,642 and, if resistance at the level is crossed, the stock could go to Rs 1,660. Keep a stop at Rs 1,625 and go long. Increase the position beyond Rs 1,642 and reset the stop loss to Rs 1,640. Start booking profits above Rs 1,655.
The target price and projected movements given above are in terms of the next one
