NIFTY
Current: 4,836 (Futures: 4,815)
Target: NA
The trend is bearish. A swing session could move till 4,725 or 4,925. Stop loss long positions at 4,775 and stop loss shorts at 4,900. A bearspread of long 4,800p (69) and short 4,700p (35) continues to look tempting. It could rise 15-20 in value if the Nifty drops below 4,775.
GAIL
Current price: Rs 325
Target price: Rs 340
The stock could move till around the 340-345 mark. Keep a stop at 318 and go long. Add to the position between 330-335. Start booking profits above 340.
SBI
Current price: Rs 1,995
Target price: Rs 1,850
SBI has support between 1,920-1,940 and resistance at 1,970-1,990. Breakouts could go till 1,850 or 2,040. The downside is more likely in a three-session timeframe. Keep a stop at 1,980 and short. Add to the position between 1,900-1,920. Book profits at 1,850.
BHARTI AIRTEL
Current price: Rs 282
Target price: Rs 272
The stock has hit successive 52-week lows. Difficult to predict a target but trend suggests 270-272 is the next level. Keep a stop at 286 and short. Add to the position between 277-280. Book profits below 272.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
