IDFC
Current price: Rs 196,
Target price: Rs 201
The stock has bounced off support at Rs 188. But relatively low volumes makes it likely that this is a short-covering move rather than a new uptrend. Still an upside till Rs 201 is possible. Keep a stop at Rs 194 and go long. Book profits above Rs 200. If the Rs 194 stop is broken, go short with a stop at Rs 196 and a target of Rs 189.
CIPLA
Current price: Rs 344,
Target price: Rs 357
A sharp rebound from a recent low of Rs 327 on very high volumes. We may see a run up till Rs 355-360. Keep a stop loss at Rs 338 and go long. Add to the position between Rs 350 and Rs 352 and reset the stop to Rs 349. Start booking profits beyond the Rs 355 mark.
GAIL
Current price: Rs 494,
Target price: Rs 475
A slide back to support at Rs 470-475 is likely with the stock having seen short-covering on low volumes. There is some support at Rs 485. Keep a stop at Rs 498 and go short. Increase the position between Rs 482 and Rs 484 and reset the stop to Rs 487. Clear the position at Rs 475.
(The target price and projected movements given above are in terms of the next one trading session)
