Sterlite
Current: Rs 176.5,
Target: Rs 183
The stock has bounced on fairly good volumes. It could climb till around the Rs 183 level if the buying is sustained today. Keep a stop at Rs 174 and go long. Increase the position between Rs 178 and Rs 180. Above Rs 183 start booking profits.
Rcom
Current: Rs 180.5,
Target: Rs 175
A reaction has started in the stock and it could slide till it hits support at Rs 174-175. Keep a stop at Rs 182 and go short. Increase the position between Rs 178.5 and Rs 179.5. Start booking profits below Rs 175. In a five-session perspective, the stock could fall further, till around Rs 170.
SBI
Current: Rs 3,273,
Target : Rs 3,325
The stock has responded favourably to the new RBI policy. It has the potential to test the 2010 high at Rs 3,325 and go onto Rs 3,375 if that's broken. However, more likely Rs 3,325-3,335 will be insurmountable and there could be a reaction from there. Keep a a stop at Rs 3,250 and go long. Add to the position between Rs 3,280 and Rs 3,295. Start booking profits above Rs 3,320.
(The target price and projected movements given above are in terms of the next one trading session)
