NIFTY
Current: 6,031 (fut: 6,031);
Target: NA
Still an uptrend but momentum is down. Use 6,085 and 5,975 as stop-losses for short and long positions, respectively. A swing session could go till 5,925 or 6,125. A long 6,100c (35) and short 6,200c (11) costs 24 and it could double if 6,100 is struck.
HCL TECH
Current price: Rs 875;
Target price: Rs 900
New 52-week high at Rs 882-883. Keep a stop at Rs 860 and go long. Add to the position between Rs 883 and Rs 890. Book profits at Rs 900.
BANK NIFTY
Current price: 11,790 (fut: 11,834);
Target: 11,600
Significant futures premium which could reduce to 25-30. Keep a stop at 11,900 (futures price) and go short. Add to the position between 11,700 and 11,725. Book profits at 11,600.
SUN PHARMA
Current price: Rs 1,111;
Target price: Rs 1,150
New 52-week high at Rs 1,123-1,124. Keep a stop at Rs 1,100 and go long. Add to the position between Rs 1,123 and Rs 1,135. Book profits above Rs 1,150.
TATA STEEL
Current price: Rs 257;
Target price: Rs 245
New 52-week low at Rs 251-252. The pullback may be unsustainable. Keep a stop at Rs 262 and go short with a three-session timeframe. Add to the position between Rs 249 and Rs 252. Book profits below Rs 245.
Current: 6,031 (fut: 6,031);
Target: NA
Still an uptrend but momentum is down. Use 6,085 and 5,975 as stop-losses for short and long positions, respectively. A swing session could go till 5,925 or 6,125. A long 6,100c (35) and short 6,200c (11) costs 24 and it could double if 6,100 is struck.
HCL TECH
Current price: Rs 875;
Target price: Rs 900
New 52-week high at Rs 882-883. Keep a stop at Rs 860 and go long. Add to the position between Rs 883 and Rs 890. Book profits at Rs 900.
BANK NIFTY
Current price: 11,790 (fut: 11,834);
Target: 11,600
Significant futures premium which could reduce to 25-30. Keep a stop at 11,900 (futures price) and go short. Add to the position between 11,700 and 11,725. Book profits at 11,600.
SUN PHARMA
Current price: Rs 1,111;
Target price: Rs 1,150
New 52-week high at Rs 1,123-1,124. Keep a stop at Rs 1,100 and go long. Add to the position between Rs 1,123 and Rs 1,135. Book profits above Rs 1,150.
TATA STEEL
Current price: Rs 257;
Target price: Rs 245
New 52-week low at Rs 251-252. The pullback may be unsustainable. Keep a stop at Rs 262 and go short with a three-session timeframe. Add to the position between Rs 249 and Rs 252. Book profits below Rs 245.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
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