NIFTY
Current: 5,863 (fut: 5,902);
Target: NA
The futures premium has increased to around 35. The index gained for the third day in succession. It could hit 5,925 or correct back to 5,800. Stop-loss shorts at 5,875 and stop-loss long positions at 5,825. The bullspread of long 5,900c (66) and short 6,000c (28) could gain another 15-20 if the index hits 5,900.
HERO MOTO CORP
Current price: Rs 1,713;
Target price: Rs 1,765
Resistance at Rs 1,725-1,740. Next resistance at Rs 1,765-1,780. Keep a stop at Rs 1,690 and go long. Add to the position between Rs 1,730 and Rs 1,740. Book profits above Rs 1,765.
ITC
Current price: Rs 292;
Target price: Rs 299
The stock could bounce till the Rs 299-302 level. Keep a stop at Rs 288 and go long. Add to the position between Rs 295 and Rs 297. Book profits above Rs 299.
HIND UNILEVER
Current price: Rs 432;
Target price: Rs 421
The stock hit a three-month low at Rs 432-433. It could have a downside till Rs 420-421 or perhaps Rs 412-415. Keep a stop at Rs 437 and short. Add to the position between Rs 428 and Rs 432. Book profits or partial profits at Rs 421.
COAL INDIA
Current price: Rs 313;
Target price: Rs 297
The stock could test support at Rs 305-306 and if that breaks, it could fall till Rs 294-297. Keep a stop at Rs 317 and go short. Add to the position between Rs 301 and Rs 305. Book profits below Rs 297.
Current: 5,863 (fut: 5,902);
Target: NA
The futures premium has increased to around 35. The index gained for the third day in succession. It could hit 5,925 or correct back to 5,800. Stop-loss shorts at 5,875 and stop-loss long positions at 5,825. The bullspread of long 5,900c (66) and short 6,000c (28) could gain another 15-20 if the index hits 5,900.
HERO MOTO CORP
Current price: Rs 1,713;
Target price: Rs 1,765
Resistance at Rs 1,725-1,740. Next resistance at Rs 1,765-1,780. Keep a stop at Rs 1,690 and go long. Add to the position between Rs 1,730 and Rs 1,740. Book profits above Rs 1,765.
ITC
Current price: Rs 292;
Target price: Rs 299
The stock could bounce till the Rs 299-302 level. Keep a stop at Rs 288 and go long. Add to the position between Rs 295 and Rs 297. Book profits above Rs 299.
HIND UNILEVER
Current price: Rs 432;
Target price: Rs 421
The stock hit a three-month low at Rs 432-433. It could have a downside till Rs 420-421 or perhaps Rs 412-415. Keep a stop at Rs 437 and short. Add to the position between Rs 428 and Rs 432. Book profits or partial profits at Rs 421.
COAL INDIA
Current price: Rs 313;
Target price: Rs 297
The stock could test support at Rs 305-306 and if that breaks, it could fall till Rs 294-297. Keep a stop at Rs 317 and go short. Add to the position between Rs 301 and Rs 305. Book profits below Rs 297.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
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