NIFTY
Current: 4,986 (Futures: 4,988)
Target: NA
The index may have made a small upside breakout. A big session could mean a move till either 5,075, or 4,875. Stop-loss shorts at 5,025 and stop-loss long positions at 4,925. Given expiry considerations, a straddle of long 4,900p (14) and long 5,100c (4) could gain a lot on a big swing.
BANK NIFTY
Current: 9,698 (Futures: 9,675)
Target: 9,900
The financial index may open a little lower tomorrow. If it can hold out above support at 9,625, it could test 9,900-9,950 before settlement. Keep a stop at 9,600 and go long. Add to the position between 9,775 and 9,825. Book profits above 9,900. If it falls below 9,575, it could slide till 9,450.
BHEL
Current price: Rs 217
Target price: Rs 235
The stock is bouncing off recent lows. It could jump till Rs 235-240 if it clears resistance between Rs 218 and Rs 225. Keep a stop at Rs 208 and go long. Add to the position between Rs 223 and Rs 227. Book profits above Rs 235.
ITC
Current price: Rs 235
Target price: Rs 245
The stock seems to have found support and it could bounce back till around the Rs 245-250 levels. Keep a stop at Rs 230 and go long till the settlement. Add to the position between Rs 237and Rs 240. Book profits beyond Rs 245.
GAIL Current price: Rs 328
Target price: Rs 320
The stock could react till the Rs 318-320 levels if a sell off continues. Keep a stop at Rs 332 and go short. Add to the position between Rs 323 and Rs 326. Book profits below Rs 320.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
