Current: 6,298 (fut: 6,330);
Target: NA
Stop-loss shorts at 6,375. Stop-loss long positions at 6,275. Breakouts or breakdowns could go till 6,225 or 6,400. A strangle of 6,400c (46) and 6,200p (38) is zero-delta and it could gain 20 on a big swing. (All futures prices above)
BANK NIFTY
Current: 10,929 (fut: 10,962);
Target: 11,125
Keep a stop at 10,875 and go long. Add to the position between 11,050 and 11,075. Book profits above 11,125.
HINDALCO
Current price: Rs 114;
Target price: Rs 110
Keep a stop at Rs 115 and go short. Add to the position between Rs 111 and Rs 112.5. Book profits below Rs 110.
GAIL
Current price: Rs 382;
Target price: Rs 389
Keep a stop at Rs 379 and go long. Add to the position between Rs 383 and Rs 385. Book profits above Rs 389.
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