SUZLON
Current price: Rs 46.5,
Target price: Rs 44.5
The stock is intriguingly poised. It bounced off successive lows at Rs 45.90 but volumes were low and the recovery was weak. The next burst of selling could take it to Rs 44. On the other hand, a recovery could pull it to Rs 48. Keep a stop at Rs 47.5 and go short. Increase the position between Rs 45.5 and Rs 46. Start booking profits below Rs 44.5
SAIL
Current price: Rs 188,
Target price: Rs 192.5
It's not very clear yet but the global, metals market may be making an uptick. Sail could be a major beneficiary. The stock is lifting off a recent low of Rs 185 on high volumes. One good session could pull it to Rs 193. Keep a stop at Rs 186 and go long. Increase the position between Rs 188 and Rs 189 and start booking profits above Rs 192.
CAIRN
Current price: Rs 340,
Target price: Rs 346
The stock is seeing some renewed interest. It has room to rise till Rs 346. If it crosses Rs 347, it could go to Rs 355 but there's a lot of resistance at Rs 346- Rs 347. Keep a stop at Rs 337 and go long. If you can, book partial profits at Rs 346 and hold the rest of the position till Rs 355, which should come by weekend.
(The target price and projected movements given above are in terms of the next one trading session unless otherwise stated)
