ADANI ENTERPRISES
Current price: Rs 623,
Target price: Rs 642
The stock is in the early stages of a breakout, accompanied by high volumes. Charts suggest intra-day targets in the Rs 640-650 range. Keep a stop at Rs 615 and go long. Add to the position between Rs 625 and Rs 628. Beyond Rs 635, book partial profits and reset the stop-loss to Rs 632. Clear the position above Rs 640. If you wish to hold for three sessions, aim for a target of Rs 660.
TATA MOTORS
Current price: Rs 845,
Target price: Rs 825
The stock's gone into a correction with fairly heavy selling. It's likely to slide a bit further before it finds reliable support in the Rs 820-825 zone. Keep a stop at Rs 850 and go short. Increase the position between Rs 837 and Rs 839. Start booking profits at Rs 825. If the Rs 850 stop-loss is broken, reverse the position and go long with a target of Rs 865.
AXIS BANK
Current price: Rs 1,356,
Target price: Rs 1,380
The stock has bottomed out in a correction and then started to move up again. It has a generally bullish pattern. At the least, expectations would be that it would go into a trading range with an upside till Rs 1,380-1,385. Keep a stop at Rs 1,345 and go long. Above Rs 1,370, reset the stop-loss to Rs 1,365 and increase the position. Book profits above Rs 1,380.
(The target price and projected movements given above are in terms of the next one trading session unless otherwise stated)
