NIFTY
Current: 6,704 (futures: 6,747);
Target: NA
The index has hit successive highs. The RBI's policy review could trigger a trend reversal or reinforce the bull run. Stop-loss shorts at 6,805 and stop-loss long positions at 6,675. Breakouts or breakdowns could go till 6,625 or 6,850. A long 6,700p (93) and short 6,600p (61), which costs 32, is on the money. It could double in value if the trend turns weak.
BANK NIFTY
Current: 12,742 (fut: 12,809);
Target: NA
The financial index could swing to 12,450 or 13,100, depending on RBI policy. If the policy rate (and money supply) are left unchanged or tightened, the index will fall. If the rate is cut or money supply eases, this would rise. Ideally, stay out until policy is announced. Existing shorts can be stop-lossed at 12,950, while existing long positions can be stopped at 12,650. (All futures prices above).
HINDALCO
Current price: Rs 142;
Target price: Rs 137
New high at Rs 142-143. Keep a stop-loss at Rs 144 and go short. Add to the position between Rs 139 and Rs 141. Book profits at Rs 137. If Rs 144 is broken, it could run till Rs 148-149.
IDFC
Current price: Rs 122;
Target price: Rs 116
Keep a stop at Rs 125 and go short. Add to the position between Rs 118 and Rs 120. Book profits at Rs 116. A move past Rs 125 could run till Rs 130.
Current: 6,704 (futures: 6,747);
Target: NA
The index has hit successive highs. The RBI's policy review could trigger a trend reversal or reinforce the bull run. Stop-loss shorts at 6,805 and stop-loss long positions at 6,675. Breakouts or breakdowns could go till 6,625 or 6,850. A long 6,700p (93) and short 6,600p (61), which costs 32, is on the money. It could double in value if the trend turns weak.
BANK NIFTY
Current: 12,742 (fut: 12,809);
Target: NA
The financial index could swing to 12,450 or 13,100, depending on RBI policy. If the policy rate (and money supply) are left unchanged or tightened, the index will fall. If the rate is cut or money supply eases, this would rise. Ideally, stay out until policy is announced. Existing shorts can be stop-lossed at 12,950, while existing long positions can be stopped at 12,650. (All futures prices above).
HINDALCO
Current price: Rs 142;
Target price: Rs 137
New high at Rs 142-143. Keep a stop-loss at Rs 144 and go short. Add to the position between Rs 139 and Rs 141. Book profits at Rs 137. If Rs 144 is broken, it could run till Rs 148-149.
IDFC
Current price: Rs 122;
Target price: Rs 116
Keep a stop at Rs 125 and go short. Add to the position between Rs 118 and Rs 120. Book profits at Rs 116. A move past Rs 125 could run till 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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