Current: 8,744 (fut: 8,803),
Target: NA
Stop-long positions at 8,725. Stop-loss short positions at 8,870. Big moves may be till 8,925, 8,675. Trend is bullish. A butterfly of long 8,800c (114), two short 8,900c (68.5x2) and one long 9,000c (37) costs 14. It could pay a maximum of 86 if the index hits 8,900 with breakevens at 8,814, 8,986.
BANK NIFTY
Current: 19,531 (fut: 19,636)
Target: NA
Stop-loss long positions at 19,505. Stop-loss short positions at 19,750. Big moves could go till 19,950, 19,350. Trend looks strongly bullish.
AMBUJA CEMENTS
Current price: Rs 275
Target price: Rs 280
Keep a stop at Rs 272 and go long. Add to the position between Rs 278 and Rs 279. Book profits at Rs 280.
POWERGRID
Current price: Rs 183
Target price: Rs 180
Keep a stop at Rs 185 and go short. Add to the position between Rs 181 and Rs 182. Book profits at Rs 180.
BAJAJ AUTO
Current price: Rs 2,979
Target price: Rs 2,935
Keep a stop at Rs 3,010 and go short. Add to the position between 2,940 and Rs 2,950. Book profits at Rs 2,935.
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