NIFTY
Current: 6,721 (futures: 6,761);
Target: NA
Stop-loss shorts at 6,815. Stop-loss long positions at 6,695. Breakouts or breakdowns could go till 6,850 or 6,650. A bearspread of long 6,700p (70) and short 6,600p (41), which costs 29, is worth holding with a stop-loss at 20. It could double if the index drops below 6,675. (All futures prices)
BANK NIFTY
Current: 12,588 (fut: 12,678);
Target: NA
The Bank Nifty may trade in the 12,575-12,825 range. Breakouts or breakdowns could go till 12,900 or 12,400. A breakdown is more likely. Traders can look to buy when the index is at 12,600 or lower, with a stop at 12,550. They can sell at 12,800 with a stop at 12,850. (All futures prices)
CAIRN INDIA
Current price: Rs 345;
Target price: Rs 355
Keep a stop at Rs 340 and go long. Add to the position between Rs 349 and Rs 352. Book profits at Rs 355.
HCL TECHNOLOGIES
Current price: Rs 1,418;
Target price: Rs 1,445
Keep a stop at Rs 1,400 and go long. Add to the position between Rs 1,425 and Rs 1,440. Book profits at Rs 1,445.
TATA MOTORS
Current price: Rs 403;
Target price: Rs 415
Keep a stop at Rs 398 and go long. Add to the position between Rs 405 and Rs 410. Book profits at Rs 415.
Current: 6,721 (futures: 6,761);
Target: NA
Stop-loss shorts at 6,815. Stop-loss long positions at 6,695. Breakouts or breakdowns could go till 6,850 or 6,650. A bearspread of long 6,700p (70) and short 6,600p (41), which costs 29, is worth holding with a stop-loss at 20. It could double if the index drops below 6,675. (All futures prices)
BANK NIFTY
Current: 12,588 (fut: 12,678);
Target: NA
The Bank Nifty may trade in the 12,575-12,825 range. Breakouts or breakdowns could go till 12,900 or 12,400. A breakdown is more likely. Traders can look to buy when the index is at 12,600 or lower, with a stop at 12,550. They can sell at 12,800 with a stop at 12,850. (All futures prices)
CAIRN INDIA
Current price: Rs 345;
Target price: Rs 355
Keep a stop at Rs 340 and go long. Add to the position between Rs 349 and Rs 352. Book profits at Rs 355.
HCL TECHNOLOGIES
Current price: Rs 1,418;
Target price: Rs 1,445
Keep a stop at Rs 1,400 and go long. Add to the position between Rs 1,425 and Rs 1,440. Book profits at Rs 1,445.
TATA MOTORS
Current price: Rs 403;
Target price: Rs 415
Keep a stop at Rs 398 and go long. Add to the position between Rs 405 and Rs 410. Book profits at Rs 415.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
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