SAIL may hit Rs 48, Tata Power Rs 65, RIL may fall by 2%: LKP

Kunal Bothra of LKP Securities told CNBC-TV18, "The first stage flat pattern, which you are seeing on SAIL, I think the breakout at Rs 45.25, that level and the pattern is a very critical level and the fact that the trend is about to begin over the next couple of days, I would believe for the day, the target on SAIL could be closer to Rs 48. The stop loss could be maintained at Rs 43.50.""Tata Power Company is an interesting stock in terms of breakout. Over the last couple of days, we have seen two interesting dandles for Tata Power and on the last trading day as well in last week it managed to trade close to the high point of the day with a good swing breakout as well. So, I sense that the short-term charts of Tata Power is indicating that the stock may see probably a couple of percentage points move in the next couple of days. I would look at a target of Rs 65 with a stop loss to be kept at Rs 61," he added."Reliance Industries is one of the few stocks in the largecap names which formed some sort of a negative divergence to Nifty's performance last week. I sense that, Reliance could probably be headed downwards in terms of very short-term swing trades. It formed a bearish engulfing in the last week as well. So I sense that there could be more selling pressure and probably this could be the largecap stock which can fall a couple of percentage points. So I would look at a target of Rs 1,004 on Reliance keeping a stop loss of Rs 1,041."Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com"Over the last two-three days, Tata Elxsi has been finding some resistance closer to that Rs 1,950-1,980 mark and the fact that it is not able to break that, I sense that there could be sort of correction happening in the stock. I would look at Rs 1,880 approximately as the target keeping the stop loss of Rs 1,960.""NCC is more of a contrarion sell, the stock is already in a very strong momentum but I think it is hitting the upper end of the Bollinger Band. I would look at target closer to Rs 74 with stop loss of Rs 80," he said.