NIFTY
Current: 5,682 (futures: 5,686)
Target: NA
Big bounce on settlement driven by short-covering and stronger US sentiment. Not clear if this is sustainable. Stop-loss shorts at 5,735 and stop-loss long positions at 5,625. Breakouts beyond those points could go till 5,575 or 5,775. A bullspread of long 5,800c (58) and short 5,900c (31) costs 27. It could gain 15-20 on a big upmove.
TATA STEEL
Current price: Rs 264;
Target price: Rs 256
New 52-week low at Rs 261-262. Keep a stop at Rs 269 and short. Add to the position between Rs 259 and Rs 261. Book profits below Rs 256.
DLF
Current price: Rs 176.2;
Target price: Rs 184
Keep a stop at Rs 172 and go long. Add to the position between Rs 178 and Rs 180. Book profits above Rs 184. If Rs 172 is broken, the next support is at Rs 164.
COAL INDIA
Current price: Rs 287;
Target price: Rs 281
New 52-week low at Rs 285-286. Keep a stop at Rs 291 and short. Add to the position between Rs 283 and Rs 285. Book profits below Rs 281.
HDFC BANK
Current price: Rs 646.5
Target price: Rs 658
If the uptrend continues, the stock could hit Rs 658-660. Keep a stop at Rs 639 and go long. Add to the position between Rs 652 and Rs 655. Book profits above Rs 658.
Current: 5,682 (futures: 5,686)
Target: NA
Big bounce on settlement driven by short-covering and stronger US sentiment. Not clear if this is sustainable. Stop-loss shorts at 5,735 and stop-loss long positions at 5,625. Breakouts beyond those points could go till 5,575 or 5,775. A bullspread of long 5,800c (58) and short 5,900c (31) costs 27. It could gain 15-20 on a big upmove.
TATA STEEL
Current price: Rs 264;
Target price: Rs 256
New 52-week low at Rs 261-262. Keep a stop at Rs 269 and short. Add to the position between Rs 259 and Rs 261. Book profits below Rs 256.
DLF
Current price: Rs 176.2;
Target price: Rs 184
Keep a stop at Rs 172 and go long. Add to the position between Rs 178 and Rs 180. Book profits above Rs 184. If Rs 172 is broken, the next support is at Rs 164.
COAL INDIA
Current price: Rs 287;
Target price: Rs 281
New 52-week low at Rs 285-286. Keep a stop at Rs 291 and short. Add to the position between Rs 283 and Rs 285. Book profits below Rs 281.
HDFC BANK
Current price: Rs 646.5
Target price: Rs 658
If the uptrend continues, the stock could hit Rs 658-660. Keep a stop at Rs 639 and go long. Add to the position between Rs 652 and Rs 655. Book profits above Rs 658.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
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