Tata Motors
Current price: Rs 861
Target price: Rs 872
The stock has bounced from a support at Rs 840-845. This looks like a technical reaction than a full-blown bull-run. However, it can have the strength to move till Rs 875. Teh stock can also react to the Rs 845-level. Keep a stop at Rs 858 and go long. Start booking profits above Rs 872. If the Rs 858 stop loss is broken, go short, with a stop at Rs 862 and a target of Rs 845.
Gail
Current price: Rs 430
Target price: Rs 420
The stock has reacted on heavy selling with volume expansion. The trend is likely to continue if a key support at the current price is broken. The next reliable support would be at Rs 419-420. Keep a stop at Rs 435 and go short. Increase the position between Rs 427 and Rs 429. Start squaring off at Rs 420.
LIC Housing Finance
Current price: Rs 1,163
Target price: Rs 1,180
A huge volume expansion drove the price up sharply. Friday’s target should be Rs 1,180-1,185. Keep a stop at Rs 1,155 and go long. Increase the position at Rs 1,172-1,175 and reset the stop loss to Rs 1,170. Beyond Rs 1,180, start booking profits. For overnight, seek a target of around Rs 1,205.
