Ambuja Cement
Current: Rs 148,
Target: Rs 154
The stock seems to be developing a high volume upwards breakout. If it beats resistance between Rs 149 and Rs 150, it will rise till around Rs 154. Keep a stop at Rs 143 and go long. Increase the position between Rs 149.5 and Rs 150.5 and reset the stop to Rs 148. Start booking profits above Rs 153.
Oriental Bank
Current: Rs 528,
Target: Rs 543
The stock confirmed a breakout yesterday when it closed above resistance at Rs 510 and generated huge volumes. The target could be somewhere between Rs 540 and Rs 545 on another bullish session and it may be considerably higher over the next five-ten sessions. Keep a stop at Rs 521 and go long. Increase the position between Rs 532 and Rs 535 and reset the stop to Rs 530. Start taking profits above Rs 542.
SAIL
Current: Rs 194,
Target: Rs 185
The stock has key support at Rs 191. If that is broken, it could drop till Rs 185. On the upside resistance starts at Rs 196. Keep a stop at Rs 196 and go short., Increase the position between Rs 189 and Rs 191 and reset the stop to Rs 193. Start booking profits below Rs 186.
(The target price and projected movements given above are in terms of the next one trading session)
