NIFTY
Current: 5,960 (fut: 5,940 )
Target: NA
The index turned from support at 5,883. Futures premium rose to 20+, which is bullish. A big session tomorrow could see it hit either 6,010 or 5,900. Stop-loss shorts at 5,990 and stop-loss long positions at 5,920. A strangle of long 5,900p (30) and long 6,000c (35) could well see both options struck within next couple of sessions.
HERO MOTOR
Current: Rs 1,672;
Target: Rs 1,635
The key support at Rs 1,635 (52-week low) may be tested. If that holds, the stock could bounce till Rs 1,725. If it breaks, a fall till Rs 1,575 is possible. Keep a stop at Rs 1,690 and short. Add to the position between Rs 1,645 and Rs 1,655. Book profits or partial profits at Rs 1,635.
BHARTI AIRTEL
Current: Rs 307.5;
Target: Rs 315
The stock could see a pullback till the Rs 315-318 levels. Keep a stop at Rs 304 and go long. Add to the position between Rs 309 and Rs 311. Book profits above Rs 315. If Rs 304 breaks, a drop till Rs 299 is possible.
Current: 5,960 (fut: 5,940 )
Target: NA
The index turned from support at 5,883. Futures premium rose to 20+, which is bullish. A big session tomorrow could see it hit either 6,010 or 5,900. Stop-loss shorts at 5,990 and stop-loss long positions at 5,920. A strangle of long 5,900p (30) and long 6,000c (35) could well see both options struck within next couple of sessions.
HERO MOTOR
Current: Rs 1,672;
Target: Rs 1,635
The key support at Rs 1,635 (52-week low) may be tested. If that holds, the stock could bounce till Rs 1,725. If it breaks, a fall till Rs 1,575 is possible. Keep a stop at Rs 1,690 and short. Add to the position between Rs 1,645 and Rs 1,655. Book profits or partial profits at Rs 1,635.
BHARTI AIRTEL
Current: Rs 307.5;
Target: Rs 315
The stock could see a pullback till the Rs 315-318 levels. Keep a stop at Rs 304 and go long. Add to the position between Rs 309 and Rs 311. Book profits above Rs 315. If Rs 304 breaks, a drop till Rs 299 is possible.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
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