NIFTY
Current: 5,955 (futures: 5,979)
Target: NA
The downtrend may continue and the futures premium should narrow or disappear. Use 6,010 and 5,910 (spot values) as stop-losses for short and long positions. Breakouts past the stops could go till 5,865 or 6,045. A bearspread of long 5,900p (36) and short 5,800p (17) could double if 5,900 is struck.
ITC
Current price: Rs 360
Target price: Rs 370
New 52-week high. Keep a stop at Rs 354 and go long. Add to the position between Rs 362 and Rs 365. Book profits above Rs 370.
LARSEN & TOUBRO
Current price: Rs 971
Target price: Rs 940
Key support at the 52-week low of Rs 956-957. Keep a stop at Rs 985 and short. Add to the position between Rs 950 and Rs 960. Book profits below Rs 940.
STATE BANK OF INDIA
Current price: Rs 1,828
Target price: Rs 1,770
New low at Rs 1,797-1,798 followed by a bounce. Keep a stop at Rs 1,850 and short. Add to the position between Rs 1,785 and Rs 1,805. Book profits below Rs 1,770.
DLF
Current price: Rs 164.7
Target price: Rs 156
Key support at the 52-week low of Rs 161-162 could be tested. Keep a stop at Rs 168 and go short. Add to the position between Rs 159 and Rs 161. Book profits below Rs 156.
Current: 5,955 (futures: 5,979)
Target: NA
The downtrend may continue and the futures premium should narrow or disappear. Use 6,010 and 5,910 (spot values) as stop-losses for short and long positions. Breakouts past the stops could go till 5,865 or 6,045. A bearspread of long 5,900p (36) and short 5,800p (17) could double if 5,900 is struck.
ITC
Current price: Rs 360
Target price: Rs 370
New 52-week high. Keep a stop at Rs 354 and go long. Add to the position between Rs 362 and Rs 365. Book profits above Rs 370.
LARSEN & TOUBRO
Current price: Rs 971
Target price: Rs 940
Key support at the 52-week low of Rs 956-957. Keep a stop at Rs 985 and short. Add to the position between Rs 950 and Rs 960. Book profits below Rs 940.
STATE BANK OF INDIA
Current price: Rs 1,828
Target price: Rs 1,770
New low at Rs 1,797-1,798 followed by a bounce. Keep a stop at Rs 1,850 and short. Add to the position between Rs 1,785 and Rs 1,805. Book profits below Rs 1,770.
DLF
Current price: Rs 164.7
Target price: Rs 156
Key support at the 52-week low of Rs 161-162 could be tested. Keep a stop at Rs 168 and go short. Add to the position between Rs 159 and Rs 161. Book profits below Rs 156.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
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