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Trading desk

NTPC, Suzlon & Tata Steel

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Devangshu Datta Mumbai

NTPC
Current: Rs 205,
Target: Rs 211
The stock appears to have consolidated above support between Rs 202 and Rs 205. It has the potential to test resistance at Rs 210-211 though it is generating low volumes. Keep a stop at Rs 203 and go long. Increase the position between Rs 207 and Rs 208. Clear the position above Rs 210.

SUZLON
Current: Rs 57.4,
Target: Rs 53
The stock has started a reaction on profit-booking. It has strong support at Rs 56 but if that is broken, it could fall till Rs 52-53. Keep a stop at Rs 58.5 and go short. Increase the position between Rs 55 and Rs 56 and reset the stop to Rs 56.5. Start booking profits below Rs 53

 

TATA STEEL
Current: Rs 615,
Target: Rs 600
There's been heavy selling driving a pattern of lower highs and low lows from a peak of Rs 685 on October 6. There is a downside till the Rs 595-600 support level. Keep a stop at Rs 620 and go short. Increase the position between Rs 612 and Rs 614 and reset the stop to Rs 616. Start booking profits below Rs 600.

(The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated)

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First Published: Oct 21 2010 | 12:48 AM IST

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