HDIL, Reliance Industries, Tata Motors
HDIL
Current Price: Rs125, Target Price: Rs120
The stock's seen three sessions of heavy selling with successive 52-week lows. It has a target of Rs119-120 and it could fall further. Keep a stop at Rs128 and go short. Increase the position between Rs122 and Rs124 and reset the stop to Rs126. Start booking profits below Rs120.
Reliance Industries
Current Price: Rs895, Target Price: Rs870
The stock broke support at Rs915-920 on volume expansion and fell to a new 52-week low. Difficult to set a target but it could drop to Rs870 today. Keep a stop at Rs905 and go short. Increase the position between Rs880 and Rs885 and reset the stop to Rs895. Start booking profits below Rs870.
Tata Motors
Current Price: Rs1,069, Target Price: Rs1,025
Tata Motors made a classic downside breakout on volume expansion, breaking support at Rs1,150. It could bounce back to around Rs1095 on short-covering but it's more likely to slide till around the Rs1,010-1,020 zone. Keep a stop at Rs1085 and short. Increase the position between Rs1,050 and Rs1,060 and reset the stop to Rs1,065. Book profits below Rs1,025.
HDIL
Current Price: Rs125, Target Price: Rs120
The stock's seen three sessions of heavy selling with successive 52-week lows. It has a target of Rs119-120 and it could fall further. Keep a stop at Rs128 and go short. Increase the position between Rs122 and Rs124 and reset the stop to Rs126. Start booking profits below Rs120.
Reliance Industries
Current Price: Rs895, Target Price: Rs870
The stock broke support at Rs915-920 on volume expansion and fell to a new 52-week low. Difficult to set a target but it could drop to Rs870 today. Keep a stop at Rs905 and go short. Increase the position between Rs880 and Rs885 and reset the stop to Rs895. Start booking profits below Rs870.
Tata Motors
Current Price: Rs1,069, Target Price: Rs1,025
Tata Motors made a classic downside breakout on volume expansion, breaking support at Rs1,150. It could bounce back to around Rs1095 on short-covering but it's more likely to slide till around the Rs1,010-1,020 zone. Keep a stop at Rs1085 and short. Increase the position between Rs1,050 and Rs1,060 and reset the stop to Rs1,065. Book profits below Rs1,025.
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