L&t
Current price: Rs 1,876
Target price: Rs 1,900
The stock has jumped on heavy volumes. There's some resistance at current price but it could test higher resistance between Rs 1,895 and Rs 1,905 on Wednesday. Keep a stop at Rs 1,865 and go long. Increase the position between Rs 1,880 and Rs 1,884. Clear the position at Rs 1,900 or just above – this is likely to be an intra-day high.
DLF
Current Price: Rs 316
Target Price: Rs 307
Selling pressure is evident across the entire real estate (and housing finance) sectors. DLF was also a victim. It's likely to slide till Rs 305-307 if the current level is broken. Keep a stop at Rs 320 and go short. Increase the position between Rs 312 and Rs 314. Start booking profits below Rs 308.
(The target price and projected movements given above are in terms of the next one trading session )
