ITC
Current price: Rs 172.65
Target price: Rs 168
The stock is seeing heavy selling after hitting a recent peak of about Rs 179. It could slide till Rs 168-169 tomorrow. Keep a stop at Rs 174 and go short. Increase the position between Rs 170 and Rs 171. Start booking profits below Rs 169.
HDFC
Current price: Rs 722,
Target price: Rs 735
The stock has developed a strong uptrend with good volumes. It could test resistance between Rs 735 and Rs 740 today. Keep a stop at Rs 715 and go long. Increase the position between Rs 724 and Rs 727. Above Rs 735, start booking profits.
Ranbaxy
Current price: Rs 562,
Target price: Rs 585
The stock has jumped on a big volume expansion. It has a potential target in the range of Rs 580-585 today. Keep a stop at Rs 555 and go long. Increase the position between Rs 566 and Rs 568. Start booking profits above Rs 582 and clear the position at Rs 585.
(The target price and projected movements given above are in terms of the next trading session, unless otherwise stated)
