NIFTY
Current: 5,303 (futures: 5,310)
Target: NA
The index could swing between 5,265 and 5,365 on Thursday with possible breakouts till 5,435 and 5,180. Trend looks bearish. Stop loss shorts at 5,475 and stop loss long positions at 5,250. A bearspread of long 5,300p (83) and short 5,200p (47) costs 36 and it could gain 25 if 5,200 is struck.
BANK NIFTY
Current: 9,264 (fut: 9,321);
Target: 9,050
Massive intra-day volatility and a premium on futures. The premium should ease to about 15-20. Keep a stop at 9,400 (futures price) and short. Add to the position between 9,200 and 9,225. Book profits below 9,050.
AMBUJA CEMENT
Current: Rs 155.75;
Target: Rs 150
New low at Rs 153-154. Keep a stop at Rs 159 and short. Add to the position between Rs 152 and Rs 153. Book profits below Rs 150.
RANBAXY
Current: Rs 331;
Target: Rs 305
The stock could swing between Rs 300 and Rs 340. Keep a stop at Rs 340 and short. Add to the position between Rs 320 and Rs 325. Book profits below Rs 305. If Rs 340 is broken, the stock could run till Rs 355.
RELIANCE COMMUNICATIONS
Current: Rs 114.6;
Target: Rs 107
Keep a stop at Rs 118 and short. Add to the position between Rs 110 and Rs 112. Book profits below Rs 107.
Current: 5,303 (futures: 5,310)
Target: NA
The index could swing between 5,265 and 5,365 on Thursday with possible breakouts till 5,435 and 5,180. Trend looks bearish. Stop loss shorts at 5,475 and stop loss long positions at 5,250. A bearspread of long 5,300p (83) and short 5,200p (47) costs 36 and it could gain 25 if 5,200 is struck.
BANK NIFTY
Current: 9,264 (fut: 9,321);
Target: 9,050
Massive intra-day volatility and a premium on futures. The premium should ease to about 15-20. Keep a stop at 9,400 (futures price) and short. Add to the position between 9,200 and 9,225. Book profits below 9,050.
AMBUJA CEMENT
Current: Rs 155.75;
Target: Rs 150
New low at Rs 153-154. Keep a stop at Rs 159 and short. Add to the position between Rs 152 and Rs 153. Book profits below Rs 150.
RANBAXY
Current: Rs 331;
Target: Rs 305
The stock could swing between Rs 300 and Rs 340. Keep a stop at Rs 340 and short. Add to the position between Rs 320 and Rs 325. Book profits below Rs 305. If Rs 340 is broken, the stock could run till Rs 355.
RELIANCE COMMUNICATIONS
Current: Rs 114.6;
Target: Rs 107
Keep a stop at Rs 118 and short. Add to the position between Rs 110 and Rs 112. Book profits below Rs 107.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
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