NIFTY
Current: 5,279 (July futures: 5,290)
Target: NA
The trend is net bullish. A swing session could move the index till 5,350 or down till 5,200. Stop-loss any long positions at 5,200 and stop-loss shorts at 5,325. A bullspread of long 5,400c (48) and short 5,500c (22) costs 26 and it could gain 15-20 on a big upmove.
ITC
Current price: Rs 250
Target price: Rs 260
The stock hit a new 52-week high and reacted sharply. It could find support at Rs 245-247 and test the Rs 260-261 level again. Keep a stop at Rs 245 and go long. Add to the position between Rs 253 and Rs 255. Book profits or partial profits at Rs 260.
HERO MOTOCORP
Current price: Rs 2,114
Target price: Rs 2,065
A reaction till support at Rs 2,045-2,065 is possible. Keep a stop at Rs 2,140 and short. Add to the position between Rs 2,085 and Rs 2,105. Book profits below Rs 2,065.
DLF
Current price: Rs 205
Target price: Rs 212
The stock has the potential to reach Rs 212-214. Keep a stop at Rs 199 and go long. Add to the position between Rs 207 and Rs 209. Book profits above Rs 212.
AXIS BANK
Current price: Rs 1,029
Target price: Rs 995
The stock could be due for a reaction till Rs 985-995. Keep a stop at Rs 1,040 and go short. Add to the position between Rs 1,005 and Rs 1,015. Book profits below Rs 995.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stat
