NIFTY
Current: 5,817 (futures: 5,815)
Target: NA
Index is looking bearish. Key support at 5,775. If that breaks, the Nifty could fall till 5,700. On the upside, resistance at 5,875 is a stop loss for short positions. The bearspread of long 5,700p (53) and short 5,600p (31) costs 22 and it could double if the index falls till 5,725.
LUPIN
Current price: Rs 861;
Target price: Rs 885
New 52-week high for the pharma major at Rs 865-866. Keep a stop at Rs 845 and go long. Add to the position between Rs 866 and Rs 874. Book profits above Rs 885.
TATA STEEL
Current price: Rs 256.2;
Target price: Rs 247
New 52-week low at Rs 255-256. Keep a stop at Rs 261 and short. Add to the position between Rs 252 and Rs 255. Book profits below Rs 247.
BANK OF BARODA
Current price: Rs 552;
Target price: Rs 535
The public sector unit closed weak. Keep a stop at Rs 563 and short. Book partial profits or cash out at Rs 535, near the 52-week low. If Bank of Baroda falls below Rs 535, set a new stop loss at Rs 545 and a target of Rs 520
BPCL
Current price: Rs 335;
Target price: Rs 325
A steady downtrend. Keep a stop at Rs 342 and short. Add to the position between Rs 329 and Rs 332. Book profits below Rs 325. Or hold for a target of Rs 315 with a stop loss at Rs 330 and a timeframe of five sessions.
Current: 5,817 (futures: 5,815)
Target: NA
Index is looking bearish. Key support at 5,775. If that breaks, the Nifty could fall till 5,700. On the upside, resistance at 5,875 is a stop loss for short positions. The bearspread of long 5,700p (53) and short 5,600p (31) costs 22 and it could double if the index falls till 5,725.
LUPIN
Current price: Rs 861;
Target price: Rs 885
New 52-week high for the pharma major at Rs 865-866. Keep a stop at Rs 845 and go long. Add to the position between Rs 866 and Rs 874. Book profits above Rs 885.
TATA STEEL
Current price: Rs 256.2;
Target price: Rs 247
New 52-week low at Rs 255-256. Keep a stop at Rs 261 and short. Add to the position between Rs 252 and Rs 255. Book profits below Rs 247.
BANK OF BARODA
Current price: Rs 552;
Target price: Rs 535
The public sector unit closed weak. Keep a stop at Rs 563 and short. Book partial profits or cash out at Rs 535, near the 52-week low. If Bank of Baroda falls below Rs 535, set a new stop loss at Rs 545 and a target of Rs 520
BPCL
Current price: Rs 335;
Target price: Rs 325
A steady downtrend. Keep a stop at Rs 342 and short. Add to the position between Rs 329 and Rs 332. Book profits below Rs 325. Or hold for a target of Rs 315 with a stop loss at Rs 330 and a timeframe of five sessions.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
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