NIFTY
Current: 5,742 (futures: 5,776)
Target: NA
Short-covering triggered a pull back from 5,675. Thursday's session could swing between 5,800 and 5,650. Keep stops at 5,820 (futures price) and 5,725 (futures price). A long 5,700p (84) and a short 5,600p (54) costs 30 and it could pay 70 if the index drops till 5,600.
YES BANK
Current: Rs 324;
Target: Rs 300
It hit a new 52-week low at Rs 285, bounced. It's likely to test support at Rs 300 again. Keep a stop at Rs 340 and short. Add to the position between Rs 310 and Rs 314. Book partial profits at Rs 300 and hold for a two-session target of Rs 285 with a new stop loss at 312.
BHARTI AIRTEL
Current: Rs 344.5;
Target: Rs 355
Set a stop loss at Rs 339, go long. Add to the position between Rs 348-Rs 351. Book profits above Rs 355. If Rs 339 is broken, it could drop till Rs 330.
BHEL
Current: Rs 158.3;
Target: Rs 150
Stock hit a new 52-week low of Rs 148-149 and bounced. Keep a stop at Rs 161 and short. Add to the position between Rs 153 and Rs 155. Book profits at Rs 150.
Current: 5,742 (futures: 5,776)
Target: NA
Short-covering triggered a pull back from 5,675. Thursday's session could swing between 5,800 and 5,650. Keep stops at 5,820 (futures price) and 5,725 (futures price). A long 5,700p (84) and a short 5,600p (54) costs 30 and it could pay 70 if the index drops till 5,600.
YES BANK
Current: Rs 324;
Target: Rs 300
It hit a new 52-week low at Rs 285, bounced. It's likely to test support at Rs 300 again. Keep a stop at Rs 340 and short. Add to the position between Rs 310 and Rs 314. Book partial profits at Rs 300 and hold for a two-session target of Rs 285 with a new stop loss at 312.
BHARTI AIRTEL
Current: Rs 344.5;
Target: Rs 355
Set a stop loss at Rs 339, go long. Add to the position between Rs 348-Rs 351. Book profits above Rs 355. If Rs 339 is broken, it could drop till Rs 330.
BHEL
Current: Rs 158.3;
Target: Rs 150
Stock hit a new 52-week low of Rs 148-149 and bounced. Keep a stop at Rs 161 and short. Add to the position between Rs 153 and Rs 155. Book profits at Rs 150.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
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