Current: 8,517 (futures: 8,547
Target: NA
Stop-long positions at 8,470. Stop-short positions at 8,620. Big moves could go till 8,675 or 8,400. A long 8,400p (63), short 8,300p (40) costs 23 and it could gain 10-15 on a downtrend below 8,450.
BANK NIFTY
Current: 18,972 (futures: 19,059)
Target: NA
Stop-long positions at 18,950. Stop-short positions at 19,205. Big moves could go till 19,275 or 18,875. Downtrend looks more likely.
TATA STEEL
Current: Rs 256
Target: Rs 252
Keep a stop at Rs 259 and short. Add to the position between Rs 253 and Rs 254. book profits at Rs 252.
ONGC
Current: Rs 266
Target: Rs 262
Keep a stop at Rs 269 and short. Add to the position between Rs 263 and Rs 264 Book profits at Rs 262.
IDEA
Current: Rs 164
Target: Rs 161
Keep a stop at Rs 166 and go short. Add to the position between Rs 161.5 and Rs 162.5. Book profits at Rs 161.
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