Business Standard

Today's picks

Nifty, Bank Nifty, Hindalco & Reliance Communications

Related News

NIFTY
Current: 4,850 (January futures: 4,871);
Target: NA
The index made a breakout that could push it past the 4,900-mark. One-session expectations would be 4,975, and 4,725. A bullspread of long 4,900c (75) and short 5,000c (38) costs 37 and it would gain by around 15-20 if 4,900 is crossed. The previously recommended strangle of long 4,900c (75) and long 4,600p (19) has gained. Cash out if the crosses 4,975.

BANK NIFTY
Current: 8,735 (January futures: 8,773);
Target: 8,925
A big up move could have enough momentum to reach the 8,900-8,950 mark. Keep a stop at 8,600 and go long. Add to the position between 8,775 and 8,825. Book profits above the 8,900-mark. If the 8,600 stop-loss is broken, there may be a reversion till 8,450.

HINDALCO
Current price: Rs 123;
Target price: Rs 128
The stock broken a key resistance at Rs 122. It could have a run up till the Rs 128 level. Keep a stop at Rs 121 and go long. Add to the position between Rs 124 and Rs 126. Start booking profits above Rs 128. If Rs 121 is broken, the stock could fall back till the Rs 118 mark.

RELIANCE COMMUNICATIONS
Current price: Rs 81;
Target price: Rs 85
The stock saw a lot of buying and it could have enough momentum to test resistance at Rs 85-86. Keep a stop at Rs 78.5 and go long. Add to the position between Rs 83 and Rs 84. Start booking profits above Rs 85. On the downside, if Rs 78 is broken, the stock could revert to the Rs 72-73 level.


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

Read more on:   
|
|
|

Read More

Today's picks

The correction yesterday may continue. One session expectations range between 4,925 and 5,225. A simple bearspread of long 5,000p (70) and short ...

Quick Links

 

Market News

Foreign investors submit bids worth Rs 3,640 cr for govt bonds

Auction was held for overseas investors at BSE's ebidxchange

Why OMCs are the best play in markets right now

Lower crude prices, higher margins and falling subsidies make OMC an attractive bet

Nifty ends above 7,900 for the first time after record high

The Nifty and Bank Nifty ended at record closing highs of 7,913 and 15,819, respectively

Sensex hovers around 26,400; IT and banks gain

At 14.45 PM, the BSE Sensex gained 58 points at 26, 422 while the CNX Nifty was up 21 points at 7,921

Hotel Leela Venture climbs 6% on news clarification

Hotel Leela Venture has surged 6% to Rs 25 on BSE after the company issued a clarification on the media news item.

Back to Top