STERLITE
Current Price: Rs 170,
Target Price: Rs 177
The stock has started climbing on enhanced volumes. It has severe resistance at Rs 172-173 but if that is beaten, it could run till Rs 177. Keep a stop at Rs 168 and go long. Increase the position between Rs 173 and Rs 174 and reset the stop to Rs 172. Above Rs 176, clear the position.
TATA MOTORS
Current Price: Rs 1,306
Target Price: Rs 1,335
The stock is developing a bullish pattern, with reasonable volumes. It has a potential target of Rs 1,335-1,340 today. Keep a stop at Rs 1,295 and go long Increase the position between Rs 1,315 and 1,310 and reset the stop loss to Rs 1,310. Above Rs 1,335 start booking profits.
CAIRN
Current Price: Rs 337,
Target Price: Rs 345
The stock seems to have made a breakout past resistance at Rs 335 on expanded volumes. The target projection would be about Rs 345-350. Keep a stop at Rs 333 and go long. Increase the position between Rs 339 and Rs 341 and reset the stop to Rs 337. Start booking profits above the Rs 345 level.
(The target price and projected movements given above are in terms of the next one trading session)
