NIFTY
Current: 6,170 (fut: 6,181);
Target: NA
Support at 6,125. Resistance above 6,190. The uptrend seems intact. Stop-loss long positions at 6,125 and stop-loss shorts at 6,225. A bullspread of long 6,200c (68) and short 6,300c (31) costs 37 and could gain 15-20 if the market crosses 6,200.
YES BANK
Current price: Rs 543;
Target price: Rs 560
A pullback from a new 52-week high of Rs 547 hit support at Rs 540. The high is likely to be tested and a move past Rs 547 could set up a target of Rs 560. Keep a stop at Rs 532 and go long. Add to the position between Rs 547 and Rs 552. Book profits above Rs 560.
JP ASSOCIATES
Current price: Rs 80;
Target price: Rs 84
The stock should have a target of Rs 84-85. Keep a stop at Rs 77 and go long. Add to the position between Rs 81 and Rs 82. Book profits above Rs 84.
LUPIN
Current price: Rs 807;
Target price: Rs 825
A new 52-week high at Rs 811. Go long with a stop loss of Rs 798. Add to the position between Rs 812 and Rs 820. Book profits above Rs 825.
IDFC
Current price: Rs 163 ;
Target price: Rs 172
A breakout past resistance at Rs 165-166 could take the stock to Rs 172-174. Keep a stop at Rs 159 and go long. Add to the position between Rs 166 and Rs 168. Book profits above Rs 172.
Current: 6,170 (fut: 6,181);
Target: NA
Support at 6,125. Resistance above 6,190. The uptrend seems intact. Stop-loss long positions at 6,125 and stop-loss shorts at 6,225. A bullspread of long 6,200c (68) and short 6,300c (31) costs 37 and could gain 15-20 if the market crosses 6,200.
YES BANK
Current price: Rs 543;
Target price: Rs 560
A pullback from a new 52-week high of Rs 547 hit support at Rs 540. The high is likely to be tested and a move past Rs 547 could set up a target of Rs 560. Keep a stop at Rs 532 and go long. Add to the position between Rs 547 and Rs 552. Book profits above Rs 560.
JP ASSOCIATES
Current price: Rs 80;
Target price: Rs 84
The stock should have a target of Rs 84-85. Keep a stop at Rs 77 and go long. Add to the position between Rs 81 and Rs 82. Book profits above Rs 84.
LUPIN
Current price: Rs 807;
Target price: Rs 825
A new 52-week high at Rs 811. Go long with a stop loss of Rs 798. Add to the position between Rs 812 and Rs 820. Book profits above Rs 825.
IDFC
Current price: Rs 163 ;
Target price: Rs 172
A breakout past resistance at Rs 165-166 could take the stock to Rs 172-174. Keep a stop at Rs 159 and go long. Add to the position between Rs 166 and Rs 168. Book profits above Rs 172.
The target prices and projected movements given above are in terms of the next trading session, unless otherwise stated
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