Reliance Capital
Current Price: Rs 760
Target Price: Rs 785
The stock appears to have bottomed out at least temporarily and should see an uptrend over the next two or three sessions. The initial targets would be in the range of 785-790, though the closing price today may not be able to sustain above 785. Keep a stop at 752 and go long. Increase the position between 765 and 768. Start booking profits above the 785-mark.
Sesa Goa
Current Price: Rs 347
Target Price: Rs 330
The stock had an aborted uptrend on Tuesday, hitting resistance at 355. It has a downside support till around the 340-mark. If 340 is broken, the stock could fall till 330 — but this will probably take more than one session. Keep a stop at 350 and go short with an initial target of 340. If you can hold overnight, book partial profits at 340 and hold the residual position with a new target of 330 and a reset stop loss of 345.
DLF
Current Price: Rs 279
Target Price: Rs 265
The stock has broken a key resistance at the 280-281 mark. It has a potential target in the 260 zone, but has supports at 265 and at 272. It is likely to break the first support at 272 and test the 265 support. Keep a stop at 285 and go short. Increase the position between 270 and 272 and reset the stop loss to 275. Start booking profits between 265 and 267.
The target price and projected movements given above are in terms of the next one trading session unless otherwise stated
