Reliance Industries
Current Price: Rs 1,058
Target Price: Rs 1,040
The stock has a key support at the current level. If that is broken, it could fall till Rs 1,035-1,040 before finding the next support. While carryover has been excellent, the intermediate trend looks weak with lower highs and lows in the past 10 sessions. Keep a stop at Rs 1,065 and go short. Increase the position below Rs 1,054. Start booking profits at Rs 1,040.
State bank of india
Current Price: Rs 2,349
Target Price: Rs 2,375
The stock is resting on a fairly strong support between Rs 2,340 and Rs 2,350. Carryover has been fairly high and both June and July series are trading at premiums to spot. If there’s a burst of buying tomorrow, the stock could have an upside till the Rs 2,375-2,380 level or higher. Keep a stop at Rs 2,340 and go long. Increase the position beyond Rs 2,364 and start booking profits beyond Rs 2,375.
The target price and projected movements given above are in terms of the next one trading session unless otherwise stated