Derivative and Equity Calls

Technical Picks - Stocks

Derivative strategies: ACC, PFC, HCLTECH


Technical calls: Lupin, Asian Paint


Allied Digital: Buy for a target of Rs320


Apollo Tyres: Enters Europe, buy


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TRADING DESK

AXIS BANK
Current Price: Rs 1,226, Target Price: Rs 1,245
The stock has a pattern of short-term correction inside what seems to be a continuing intermediate uptrend. Axis Bank has a continuing pattern of higher lows. It should open weak tomorrow and then pick-up sufficient buying to test resistance at the 1,245-1,250 range. Keep a stop at 1,220 and go long. Increase the position beyond 1,235 and start booking profits beyond 1,245.

DLF
Current Price: Rs 258, Target Price: Rs 275
The stock has hit a key support. If it rebounds from 255 level, a pullback could take it to the 270 level or somewhat higher, till 275. On the other hand, if the 255 support breaks, it could drop till the 235 mark. Keep a stop at 255 and go long. If the stock rises above 262, increase the position and start booking profits beyond 273. If it drops below 255, go short with a stop loss at 260 and a target of 240.

RCOMM
Current Price: Rs 167, Target Price: Rs 155
The stock has started a reaction that could continue till it finds support at around 155. Keep a stop at 172 and go short. Below 162m reset the stop loss to 165 and increase the position. Start booking profits below 157 and clear the position entirely below 156.

(The target price and projected movements given above are in terms of the next one trading session unless otherwise stated)

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Praj Industries Ltd

Potential investors in Reliance Communications

Engineers India

Axis Bank

IndusInd Bank

ITC Limited

UCO Bank

Magma Fincorp

Allahabad Bank

Src: HDFCSEc, Smartinvestor, Valuenotes, DP blog and etc