NIFTY
Current: 5,519 (futures: 5,550)
Target: NA
Downtrend could continue - assume the futures premium will be 25-30. Stop loss shorts at 5,600 (futures price) and stop loss long positions at 5,500. Breakouts could go till 5,650 and breakdowns till 5,450. The long 5,500p (93) and short 5,400p (61) bearspread remains attractive.
YES BANK
Current: Rs 293.6;
Target: Rs 272
Keep a stop at Rs 299 and short. Add to the position between Rs 280 and Rs 286. Book profits below Rs 272. If Rs 300 is broken, go long with a target of Rs 310.
SUN PHARMA
Current: Rs 515;
Target: Rs 500
Keep a stop at Rs 530 and short. Add to the position between Rs 510 and Rs 515. Book profits below Rs 500.
DLF
Current: Rs 131;
Target: Rs 137
Keep a stop at Rs 128 and go long. Add to the position between Rs 133 and Rs 134.5. Book profits above Rs 137. If Rs 128 is broken, the stock could slide till Rs 121, so consider a short with a stop loss of Rs 131.
Current: 5,519 (futures: 5,550)
Target: NA
Downtrend could continue - assume the futures premium will be 25-30. Stop loss shorts at 5,600 (futures price) and stop loss long positions at 5,500. Breakouts could go till 5,650 and breakdowns till 5,450. The long 5,500p (93) and short 5,400p (61) bearspread remains attractive.
YES BANK
Current: Rs 293.6;
Target: Rs 272
Keep a stop at Rs 299 and short. Add to the position between Rs 280 and Rs 286. Book profits below Rs 272. If Rs 300 is broken, go long with a target of Rs 310.
SUN PHARMA
Current: Rs 515;
Target: Rs 500
Keep a stop at Rs 530 and short. Add to the position between Rs 510 and Rs 515. Book profits below Rs 500.
DLF
Current: Rs 131;
Target: Rs 137
Keep a stop at Rs 128 and go long. Add to the position between Rs 133 and Rs 134.5. Book profits above Rs 137. If Rs 128 is broken, the stock could slide till Rs 121, so consider a short with a stop loss of Rs 131.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
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