Current: 7,416 (futures: 7,423)
Stop shorts at 7,475, long at 7,345. Big moves could go till 7,300 or 7,525. A bullspread of long 7,400c (119) and short 7,500c (69) costs 50 and it could gain 15 if the Nifty crosses 7,450.
BANK NIFTY
Current: 15,257 (futures: 15,205)
Target: 15,000 (futures: 15,025)
Keep a stop at 15,300 and short. Add to the position between 15,100 and 15,125. Book profits at 15,025. ( Futures prices above)
COAL INDIA
Current: Rs 393
Target: Rs 410
Keep a stop at Rs 388 and go long. Add to the position between Rs 395 and Rs 397. Book profits at Rs 410.
TATA STEEL
Current: Rs 527
Target: Rs 540
Keep a stop at Rs 519 and go long. Add to the position between Rs 529 and Rs 535. Book profits at Rs 540.
ONGC
Current: Rs 417
Target: Rs 398
Keep a stop at Rs 425 and go short. Add to the position between Rs 404 and Rs 409. Book profits at Rs 398.
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