NIFTY
Current: 8,433 (fut: 8,423)
Target: NA
The RBI policy could trigger a 150-point move. Stop-loss long positions at 8,365. Stop-short positions at 8,500. A long 8,600c (66), short 8,700c (39) costs 27 and it could double if the index moves above 8,550.
BANK NIFTY
Current: 18,617 (fut: 18,640)
Target: NA
The BankNifty could move between 18,250 (downside) and 18,950-19,000 (upside), depending on RBI policy. A rate cut is expected. Traders may wait for the speech, or initiate an early long position with a stop-loss at 18,500.
HCL TECH
Current price: Rs 973
Target price: Rs 955
Keep a stop at Rs 983 and go short. Add to the position between Rs 960 and Rs 965. Book profits at Rs 955.
BHARTI AIRTEL
Current price: Rs 417
Target price: Rs 425
Keep a stop at Rs 412 and go long. Add to the position between Rs 420 and Rs 422. Book profits at Rs 425.
HDFC
Current price: Rs 1,245
Target price: Rs 1,280
The housing finance major might move till Rs 1,280-Rs 1,285 if the RBI cuts rates. Keep a stop at Rs 1,230 and go long. Book partial profits at Rs 1,270
Target prices, projected movements in terms of next session, unless otherwise stated
