NIFTY
Current: 5,924 (futures: 5,945);
Target: NA
Not much movement and the futures premium remains at about 20. Stop-loss long positions near support at 5,885 and stop-loss shorts at resistance near 5,965. Breakouts could go till 5,850 and 6,000. The bearspread of long 5,900p (75) and short 5,800p (43) remains worth holding.
RELIANCE COMMUNICATIONS
Current price: Rs 116.3;
Target: Rs 121
The stock might test the 52-week high at Rs 117.5. If it breaks that, it has a target of Rs 121-122. Keep a stop at Rs 113.5 and go long. Add to the position between Rs 117.5 and Rs 118.5. Book profits above Rs 121.
DLF
Current price: Rs 199;
Target: Rs 194
The stock bounced from support at Rs 188-190. A pullback till Rs 193-194 is likely. Keep a stop at Rs 202 and go short. Add to the position between Rs 195.5 and Rs 197.5. Book profits below Rs 194. A move past Rs 202 could lead to Rs 207.
YES BANK
Current price: Rs 500;
Target price: Rs 517
The bank could bounce till the Rs 517-525 levels. Keep a stop at Rs 489 and go long. Add to the position between Rs 505 and Rs 510. Book profits above Rs 517. If Rs 489 is broken, the next support is Rs 485 and below that Rs 470.
Current: 5,924 (futures: 5,945);
Target: NA
Not much movement and the futures premium remains at about 20. Stop-loss long positions near support at 5,885 and stop-loss shorts at resistance near 5,965. Breakouts could go till 5,850 and 6,000. The bearspread of long 5,900p (75) and short 5,800p (43) remains worth holding.
RELIANCE COMMUNICATIONS
Current price: Rs 116.3;
Target: Rs 121
The stock might test the 52-week high at Rs 117.5. If it breaks that, it has a target of Rs 121-122. Keep a stop at Rs 113.5 and go long. Add to the position between Rs 117.5 and Rs 118.5. Book profits above Rs 121.
DLF
Current price: Rs 199;
Target: Rs 194
The stock bounced from support at Rs 188-190. A pullback till Rs 193-194 is likely. Keep a stop at Rs 202 and go short. Add to the position between Rs 195.5 and Rs 197.5. Book profits below Rs 194. A move past Rs 202 could lead to Rs 207.
YES BANK
Current price: Rs 500;
Target price: Rs 517
The bank could bounce till the Rs 517-525 levels. Keep a stop at Rs 489 and go long. Add to the position between Rs 505 and Rs 510. Book profits above Rs 517. If Rs 489 is broken, the next support is Rs 485 and below that Rs 470.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
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