Nifty Current: 10,444 (fut: 10,471), Target: NA Stop-long positions at 10,395. Stop-short positions at 10,550. Big moves could go till 10,600, 10,350. A long 10,500c (43), long 10,400p (40) strangle has breakevens at 10,317, 10,583. This can be offset with short 10,300p (23), short 10,600c (13) to reduce break-evens to 10,353, 10,547. Bank Nifty Current: 25,592 (fut: 25,651) Target: NA Stop-long positions at 25,475. Stop-short positions at 25,775. Big moves could go till 25,950, 25,350.
Trend seems negative.Hindalco Current price: Rs 258 Target price: Rs 262 Keep a stop at Rs 256 and go long. Add to the position between Rs 260 and Rs 261. Book profits at Rs 262. Ambuja Cements Current price: Rs 267.5 Target price: Rs 263 Keep a stop at Rs 270 and go short. Add to the position between Rs 264 and Rs 265. Book profits at Rs 263. Bharti Airtel Current price: Rs 529 Target price: Rs 520 Keep a stop at Rs 534 and go short. Add to the position between Rs 522 and Rs 524. Book profits at Rs 520.
Target prices, projected movements in terms of next session, unless otherwise stated