Today's picks

Coal India, ICICI Bank & Tata Motors
Devangshu Datta / New Delhi December 29, 2010, 0:27 IST

COAL INDIA
Current Price: Rs 304,
Target Price: Rs 296
The stock made a breakout when it dropped below support at Rs 309 on higher volumes on Monday and confirmed it yesterday with a further fall on volume expansion. A fall till Rs 295 is possible. Keep a stop at Rs 307 and go short. Add to the position between Rs 299 and Rs 301. Start booking profits at Rs 296

ICICI BANK
Current Price: Rs 1,112,
Target Price: Rs 1,090
The stock is in a gradual downtrend and likely to test support between Rs 1,090 and Rs 1,105 today. If that breaks, Rs 1,075 is a likely target. Keep a stop at Rs 1,125 and go short. Increase the position between Rs 1,100 and Rs 1,106. Start booking profits below Rs 1,091. If you can hold till settlement (December 30), look for a target of Rs 1,075.


TATA MOTORS
Current Price: Rs 1,269,
Target Price: Rs 1,230
The stock is seeing selling on heavy volume and likely to test support at Rs 1,250 on the downside. If Rs 1,250 breaks, it could slide till Rs 1,225-1230. Keep a stop at Rs 1,278 and go short. Increase the position between Rs 1,256 and Rs 1,263. At Rs 1,250, book partial profits and reset the stop till Rs 1,255. If the price drops below Rs 1,250, look for a target of Rs 1,230. 

     

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