Jet Airways
Current price: Rs 902.75
Target price: Rs 955
The stock has seen massive buying in the past three sessions. However, there is formidable resistance between Rs 955-1000. The stock is likely to penetrate into that zone and then bounce up and down, inside a wide trading range. Keep a stop at Rs 885 and go long. Expect abnormally high volatility.
LIC Housing
Current price: Rs 213.95
Target price: Rs 230
There has been a strong rally in the stock and it cleared a key resistance on excellent volumes on Friday. The upside target would be about Rs 230. But the gap at Rs 210-213 is likely to be filled as well. Keep a stop at Rs 205 and go long. Cover above Rs 225.
Punj Lloyd
Current price: Rs 305
Target price: Rs 330, Rs 355 (long-term)
The stock has jumped to new levels on the back of a volume expansion. The short-term target is likely to be about Rs 330.
The intermediate target (three weeks) could be Rs 355-360. Keep a stop at Rs 295 and go long. Cover partially at Rs 330.
Reliance Energy
Current price: Rs 850.4
Target price: Rs 820
The stock has run into a correction with a drastic drop in volume. This is likely to translate into a fall till support at about the Rs 820 level. Keep a stop at Rs 860 and go short. Cover at Rs 820.
Sun Pharma
Current price: Rs 1010.85
Target price: Rs 985-1070 (Range trading)
Sun Pharma jumped with a gap on a volume expansion on Friday. It’s likely to move till around the Rs 1070-level but there will also be a lot of intra-day selling. Expect very high volatility with prices ranging between Rs 985-1070. Keep a stop at Rs 985 and go long. Cover and go short (“double-minus”) at above Rs 1050.
(The target price and projected movements given above are in terms of the next five trading sessions unless otherwise stated.)
source biz standard
Current price: Rs 902.75
Target price: Rs 955
The stock has seen massive buying in the past three sessions. However, there is formidable resistance between Rs 955-1000. The stock is likely to penetrate into that zone and then bounce up and down, inside a wide trading range. Keep a stop at Rs 885 and go long. Expect abnormally high volatility.
LIC Housing
Current price: Rs 213.95
Target price: Rs 230
There has been a strong rally in the stock and it cleared a key resistance on excellent volumes on Friday. The upside target would be about Rs 230. But the gap at Rs 210-213 is likely to be filled as well. Keep a stop at Rs 205 and go long. Cover above Rs 225.
Punj Lloyd
Current price: Rs 305
Target price: Rs 330, Rs 355 (long-term)
The stock has jumped to new levels on the back of a volume expansion. The short-term target is likely to be about Rs 330.
The intermediate target (three weeks) could be Rs 355-360. Keep a stop at Rs 295 and go long. Cover partially at Rs 330.
Reliance Energy
Current price: Rs 850.4
Target price: Rs 820
The stock has run into a correction with a drastic drop in volume. This is likely to translate into a fall till support at about the Rs 820 level. Keep a stop at Rs 860 and go short. Cover at Rs 820.
Sun Pharma
Current price: Rs 1010.85
Target price: Rs 985-1070 (Range trading)
Sun Pharma jumped with a gap on a volume expansion on Friday. It’s likely to move till around the Rs 1070-level but there will also be a lot of intra-day selling. Expect very high volatility with prices ranging between Rs 985-1070. Keep a stop at Rs 985 and go long. Cover and go short (“double-minus”) at above Rs 1050.
(The target price and projected movements given above are in terms of the next five trading sessions unless otherwise stated.)
source biz standard