ICICI Bank
Current price: Rs 398
Target price: Rs 365
The stock is ripe for some profit-booking. It's hitting resistance above Rs 400. On the downside, there is support between Rs 360-Rs 370 and that is likely to be tested on intra-day basis at least. Keep a stop at Rs 405 and go short. Book profits below Rs 365. Be prepared for 10 per cent intra-day swings.
Punj Lloyd
Current price: Rs 114
Target price: Rs 125
The stock has made what seems like a valid breakout from a base at Rs 105. It has a potential target of Rs 125. Keep a stop at Rs 110 and go long. Start booking profits above Rs 122. If the stock dips below Rs 106, the next reliable support is at Rs 97. So a short would be possible.
Suzlon Energy
Current price: Rs 57.5
Target price: Rs 63
The stock has made a breakout past resistance at Rs 54 on a volume expansion. It has a potential target of Rs 63 and perhaps Rs 65. Keep a stop at Rs 55 and go long. There is massive resistance at Rs 67- Rs 68 so the stock is very unlikely to cross the level.
LIC Housing
Current price: Rs 282
Target price: Rs 300
The stock has broken out past resistance at Rs 250 on high volumes. It could achieve a target of about 300. Keep a stop at Rs 276 and go long. Be prepared for major bursts of volatility in what is usually a very stable stock. Book some profits above the Rs 290-mark.
Unitech
Current price: Rs 42
Target price: Rs 48
The stock has moved up on strong volume expansion. It has a potential upside till the Rs 48 level and if there is a burst of profit-booking, it could collapse back till the Rs 37-Rs 38 level. Keep a stop at Rs 40.5 and go long. Start booking profits above Rs 46.
Source BS 13-04-09
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