BHARTI AIRTEL
Current: Rs 322,
Target: Rs 332
Airtel tested support yesterday between 310-315 before making a recovery on good volumes. It could see an intra-day recovery till 332 today though this may not be sustainable. Keep a stop at 318 and go long. Increase the position between 325-328. Book profits above 331. If 318 is broken, the stock will drop till 312 so in that case, reverse and go short with a stop at 321.
INFOSYS
Current: Rs 3,053,
Target: Rs 2,950
The stock has dropped on high volumes. It's a critical support. If it falls below 3040, it could fall till 2950 at least and it may fall till 2750 in a 3-session timeframe. Keep a stop at 3080 and go short. Increase the position between 3000-3035. Start booking profits below 2950. If you have a 3-session perspective, hold with a target of 2750.
STERLITE INDUSTRIES
Current: Rs 155.75,
Target: Rs 149
The stock has made a high-volume downside breakout. It could have a target of 149 today and it may drop further till 142-144 in a 3-session timeframe. Keep a stop at 158 and go short. Increase the position between 152-153. Start booking profits below 150. If you can hold for 3 sessions, look for a target of 142.
(The target price and projected movements given above are in terms of the next one trading session)
