NIFTY
Current: 5,274 (futures: 5,302)
Target: NA
A big session could pull the Nifty to either 5,200 or 5,350. Stop-loss shorts at 5,325 and stop-loss long positions at 5,225. A long strangle of long 5,100p (22) and long 5,400c (40) remains worth holding. It would gain substantially on a big move in either direction.
IDFC
Current price: Rs 129.5
Target price: Rs 126
The stock hit a one-month low and if the downtrend continues, it could slide till around the Rs 124-126 level. Keep a stop at Rs 131 and go short. Add to the position between Rs 127 and Rs 128. Start booking profits below Rs 126.
POWERGRID
Current price: Rs 124
Target price: Rs 127
The stock made a breakout to a new high of Rs 124.7. It could move till Rs 127-128 if the trend is maintained. Keep a stop at Rs 122 and go long. Add to the position between Rs 125 and Rs 126. Book profits above Rs 127.
HINDALCO
Current price: Rs 103.75
Target price: Rs 101
The stock hit a new 52-week low of Rs 102.3 and despite a recovery late in the session, it could head down again, to a level of Rs 100-101. Keep a stop at Rs 105 and short. Add to the position between Rs 102 and Rs 103. Book profits below Rs 101.
DABUR INDIA
Current price: Rs 128
Target price: Rs 131
The stock hit a new 52-week high of Rs 129 yesterday. It could move higher, till the Rs 131-132 level. Keep a stop at Rs 126.5 and go long. Add to the position between Rs 129 and Rs 130. Book profits above Rs 131.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
