DLF
Current price: Rs 320
Target price: Rs 330
The stock has shot up on the basis of strong volume action before it corrected on selling at the Rs 325 level. It has the potential to climb to around Rs 330. Keep a stop at Rs 317 and go long. Increase the position between Rs 324 and Rs 326. Start booking profits at around Rs 330. If it does break the stop at Rs 317, consider going short with a target of Rs 309.
ICICI Bank
Current price: Rs 989
Target price: Rs 960
The stock has hit major resistance at Rs 995-1,000 and started a reaction. It is likely to test support at Rs 960-965 on the downside. If the support breaks, it could drop till the Rs 935-940 region. But the single-session target would be about Rs 960. Keep a stop at Rs 997 and go short. Increase the position between Rs 977 and Rs 980. Start booking profits below Rs 965.
Powergrid
Current price: Rs 102
Target price: Rs 95
The stock has undergone a technical recovery. It has run into resistance above Rs 103. On the downside, there is fair support around Rs 98. But if the scrip moves below Rs 98, it could drop till around Rs 94. Keep a stop at Rs 103 and go short. Increase the position between Rs 97 and Rs 98 and start booking profits below Rs 95.
The target price and projected movements given above are in terms of the next one trading session unless otherwise stated
