NIFTY
Current: 6,136 (fut: 6,152);
Target: NA
Bearish outlook. Stop-loss short positions at 6,215 and stop-loss long positions at 6,085. Breakouts or breakdowns could go till 6,250 or 6,000. A long 6,100p (29) and short 6,000p (10) costs 19 and it could double on a big downturn. (All futures prices above)
BANK NIFTY
Current: 10,540 (fut: 10,555);
Target: NA
The mood is bearish. The Bank Nifty could open weak. Set a stop loss at 150 points above entry price and short. Consensus is, RBI will leave rates unchanged. Unchanged rates could mean support at 10,300 is tested. A hike could mean a test of 10,000. A cut could mean a test of resistance at 10,900. (All futures prices above)
IDFC
Current price: Rs 93;
Target price: Rs 88
Keep a stop at Rs 96 and short. Add to the position between Rs 90 and Rs 91. Book profits below Rs 88.
Current: 6,136 (fut: 6,152);
Target: NA
Bearish outlook. Stop-loss short positions at 6,215 and stop-loss long positions at 6,085. Breakouts or breakdowns could go till 6,250 or 6,000. A long 6,100p (29) and short 6,000p (10) costs 19 and it could double on a big downturn. (All futures prices above)
BANK NIFTY
Current: 10,540 (fut: 10,555);
Target: NA
The mood is bearish. The Bank Nifty could open weak. Set a stop loss at 150 points above entry price and short. Consensus is, RBI will leave rates unchanged. Unchanged rates could mean support at 10,300 is tested. A hike could mean a test of 10,000. A cut could mean a test of resistance at 10,900. (All futures prices above)
IDFC
Current price: Rs 93;
Target price: Rs 88
Keep a stop at Rs 96 and short. Add to the position between Rs 90 and Rs 91. Book profits below Rs 88.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
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