Nifty
Current: 5,222 (April fut: 5,229)
Target: NA
The index could swing between 5,125, or 5,325 if there's a big session. Stop-loss shorts at 5,275 and stop-loss long positions at 5,175. A bearspread of long April 5,200p (25) and short April 5,100p (5) costing 20 could double in value if the market dropped.
Bank Nifty
Current: 10,215 (April fut: 10,236)
Target: 9,950
The financial index could test support at 10,050-10,125 and if it falls below 10,050, it could drop till 9,900-9,950. Keep a stop at 10,325 and short the April series. Book partial profits below 10,100 and hold the residue with a rollover if required. Clear the position at 9,950.
LARSEN & TOUBRO
Current price: Rs 1,219
Target price: Rs 1,160
The stock's testing key support between Rs 1,205 and Rs 1,220. If it falls below Rs 1,205, it could drop till Rs 1,155-1,165. Keep a stop at Rs 1,250 and short with a rollover if required. Add to the position between Rs 1,195 and Rs 1,205. Book profits below Rs 1,160.
Hind Unilever
Current price: Rs 421
Target price: Rs 428
The stock has reacted off a high and found support. It could test resistance between Rs 428 and Rs 432. A breakout past Rs 432 would drive it till Rs 440. Keep a stop at Rs 414 and go long. Add to the position between Rs 424 and Rs 426. Book profits or partial profits above Rs 428.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
