Current: 6,126 (fut: 6,142);
Target: NA
Stop-loss shorts at 6,185 and stop-loss long positions at 6,075. Breakouts and breakdowns could go till 6,225 or till 6,025. A long 6,100p (18) and a long 6,150c (30) strangle has breakevens at 6,198, 6,078. (All futures prices above) and may be worth considering.
BANK NIFTY
Current: 10,508 (fut: 10,543);
Target: 10,250 (fut: 10,275)
Keep a stop at 10,625 and short. Add to the position between 10,425 and 10,450. Book profits at 10,275. (all futures prices above).
JP ASSOCIATES
Current price: Rs 41;
Target price: Rs 38.5
Keep a stop at Rs 42.5 and short. Add to the position between Rs 39 and Rs 40. Book profits at Rs 38.5.
TATA STEEL
Current price: Rs 366;
Target price: Rs 357
Keep a stop at Rs 369 and go short,. Add to the position between Rs 359 and Rs 362. Book profits at Rs 357.
MARUTI
Current: Rs 1,567;
Target: Rs 1,515
Keep a stop at Rs 1,580 and short. Add to the position between Rs 1,525 and Rs 1,540. Book profits below Rs 1,515.
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