NIFTY
Current: 5,287 (futures: 5,295)
Target: NA
Use support at the 2013 low of 5,250 as a stop loss for long positions. Use resistance at 5,350 as a stop for short positions. Breakouts could go till 5,150 or 5,425. A strangle of long 5,200p (17) and long 5,400c (11) could triple if there's another big session before settlement.
BANK NIFTY
Current: 8,870 (futures: 8,857);
Target: 8,675
New 52-week low at 8,842 (futures: 8,825). Keep a stop at 9,000 and short. Add to the position between 8,800 and 8,825. Book profits below 8,675.
L&T
Current: Rs 705.65;
Target: Rs 680
New 52-week low at Rs 697-698. Keep a stop at Rs 715 and short. Add to the position between Rs 690 and Rs 695. Book profits below Rs 680.
RELIANCE INFRA
Current: Rs 331.35;
Target: Rs 315
Keep a stop at Rs 340 and short. Add to the position between Rs 322 and Rs 328. Book profits below Rs 315.
NTPC
Current: Rs 124.5;
Target: Rs 119
New 52-week low at Rs 123-124. Keep a stop at Rs 128 and short. Add to the position between Rs 122 and Rs 123.5. Book profits below Rs 119.
Current: 5,287 (futures: 5,295)
Target: NA
Use support at the 2013 low of 5,250 as a stop loss for long positions. Use resistance at 5,350 as a stop for short positions. Breakouts could go till 5,150 or 5,425. A strangle of long 5,200p (17) and long 5,400c (11) could triple if there's another big session before settlement.
BANK NIFTY
Current: 8,870 (futures: 8,857);
Target: 8,675
New 52-week low at 8,842 (futures: 8,825). Keep a stop at 9,000 and short. Add to the position between 8,800 and 8,825. Book profits below 8,675.
L&T
Current: Rs 705.65;
Target: Rs 680
New 52-week low at Rs 697-698. Keep a stop at Rs 715 and short. Add to the position between Rs 690 and Rs 695. Book profits below Rs 680.
RELIANCE INFRA
Current: Rs 331.35;
Target: Rs 315
Keep a stop at Rs 340 and short. Add to the position between Rs 322 and Rs 328. Book profits below Rs 315.
NTPC
Current: Rs 124.5;
Target: Rs 119
New 52-week low at Rs 123-124. Keep a stop at Rs 128 and short. Add to the position between Rs 122 and Rs 123.5. Book profits below Rs 119.
The target prices and projected movements given above are in terms of the next trading session, unless otherwise stated
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