NIFTY
Current: 5,755 (futures: 5,803);
Target: NA
Breakdown. The potential three-session downside is 5,575-5,600. Futures premium should reduce to 20-25. Keep a stop at 5,850 (futures price) and short. A bearspread of long 5,700p (73) and short 5,600p (45) costs 28 and it could pay 72 if the index drops to 5,600.
BANK NIFTY
Current: 10,307 (futures: 10,210);
Target: 10,000 (futures: 10,050)
The massive futures premium should reduce. The financial index could fall till 9,800-9,900. Keep a stop at 10,370 (futures price) and short. Add to the position between 10,225-10,250. Book profits or partial profits at 10,050 and hold the rest for a three-session target of 9,900 with a new stop at one.
DLF
Current price: Rs 160;
Target price: Rs 151
New 52-week low at Rs 157. Keep a stop at Rs 163 and short. Add to the position between Rs 154 and Rs 157. Book profits below Rs 151.
RANBAXY
Current price: Rs 279;
Target price: Rs 265
New 52-week low at Rs 276-277. Keep a stop at Rs 285 and short. Add to the position between Rs 272 and Rs 275. Book profits below Rs 265.
Current: 5,755 (futures: 5,803);
Target: NA
Breakdown. The potential three-session downside is 5,575-5,600. Futures premium should reduce to 20-25. Keep a stop at 5,850 (futures price) and short. A bearspread of long 5,700p (73) and short 5,600p (45) costs 28 and it could pay 72 if the index drops to 5,600.
BANK NIFTY
Current: 10,307 (futures: 10,210);
Target: 10,000 (futures: 10,050)
The massive futures premium should reduce. The financial index could fall till 9,800-9,900. Keep a stop at 10,370 (futures price) and short. Add to the position between 10,225-10,250. Book profits or partial profits at 10,050 and hold the rest for a three-session target of 9,900 with a new stop at one.
DLF
Current price: Rs 160;
Target price: Rs 151
New 52-week low at Rs 157. Keep a stop at Rs 163 and short. Add to the position between Rs 154 and Rs 157. Book profits below Rs 151.
RANBAXY
Current price: Rs 279;
Target price: Rs 265
New 52-week low at Rs 276-277. Keep a stop at Rs 285 and short. Add to the position between Rs 272 and Rs 275. Book profits below Rs 265.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
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