NIFTY
Current: 5,476 (futures: 5,454);
Target: NA
Resistance above 5,535; stop-loss for short positions. Support at 5,425; stop-loss for long positions. Breakouts/breakdowns could go till 5,600 or 5,325. A strangle of long 5,300p (9) and a long 5,600c (7) could triple if either end is struck before Thursday.
BANK NIFTY
Current price: 9,373 (fut: 9,335);
Target price: 9,075
Keep a stop at 9,450 and go short. Add to the position between 9,250-9,275. Book profits below 9,075. (All futures prices above).
IDFC
Current price: Rs 94.75;
Target price: Rs 92
New low at Rs 94. Keep a stop at Rs 97 and short. Add to the position between Rs 93 and Rs 94. Book profits below Rs 92.
ONGC
Current price: Rs 268;
Target price: Rs 260
Keep a stop at Rs 276 and short. Add to the position between Rs 263 and Rs 266. Book partial profits at Rs 260 and hold the rest for a target of Rs 254, with a stop at Rs 265.
BHEL
Current price: Rs 124;
Target price: Rs 130
Keep a stop at Rs 121 and go long. Add to the position at Rs 125-127. Book profits above Rs 130.
Current: 5,476 (futures: 5,454);
Target: NA
Resistance above 5,535; stop-loss for short positions. Support at 5,425; stop-loss for long positions. Breakouts/breakdowns could go till 5,600 or 5,325. A strangle of long 5,300p (9) and a long 5,600c (7) could triple if either end is struck before Thursday.
BANK NIFTY
Current price: 9,373 (fut: 9,335);
Target price: 9,075
Keep a stop at 9,450 and go short. Add to the position between 9,250-9,275. Book profits below 9,075. (All futures prices above).
IDFC
Current price: Rs 94.75;
Target price: Rs 92
New low at Rs 94. Keep a stop at Rs 97 and short. Add to the position between Rs 93 and Rs 94. Book profits below Rs 92.
ONGC
Current price: Rs 268;
Target price: Rs 260
Keep a stop at Rs 276 and short. Add to the position between Rs 263 and Rs 266. Book partial profits at Rs 260 and hold the rest for a target of Rs 254, with a stop at Rs 265.
BHEL
Current price: Rs 124;
Target price: Rs 130
Keep a stop at Rs 121 and go long. Add to the position at Rs 125-127. Book profits above Rs 130.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
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