Reliance Capital
Current Price: Rs 758, Target Price: Rs 785
The stock is in a steep uptrend backed by huge volume expansion. It’s impossible to set long-term targets with this pattern. We can expect intra-day high-low ranges of 35-50. There is resistance at 785 and 800, with support at 755, and 745. An intra-day trader can expect a move between 750 and 800 and a close between 785 and 800. Keep a stop at 750 and go long. Book profits above 785.
JSW Steel
Current Price: Rs 1,057, Target Price: Rs 1,080
The stock has been in an uptrend since June 8 when it rose from a bottom at around 1,000. It has seen periodic corrections while registering net gains. It corrected on Wednesday, from a high of 1,078. Today and tomorrow may see it testing resistance between 1,080 and 1,085. Keep a stop at 1,050 and go long. Start booking profits above 1,080.
LIC Housing Finance
Current Price: Rs 999, Target Price: Rs 1020
The stock has jumped on volume expansion in the last session. It cleared a key resistance at 980 and the pattern suggests a target of 1,020 and the intra-day high could be more. Keep a stop at 990 and go long. Start booking profits above 1,020. If you can hold for 3-5 sessions, a target of 1,050 may be possible.
The target price and projected movements given above are in terms of the next one tradingsession unless otherwise stated
