NIFTY
Current: 5,464 (March futures: 5,506);
Target: NA
The index continues to look bullish. A big session could move it till 5,600, or 5,325. Continue holding the recommended bullspread of long 5,500c (115) and short 5,600c (68) and the recommended strangle of long 5,000p (12) and long 5,400c (174). Stop-loss both spreads at 5,400.
BANK NIFTY
Current: 10,889 (March futures: 11,010);
Target: 11,170
The futures premium suggests the bull run could continue. The index may open around 10,950. Keep a stop at 10,800 and go long with a target between 11,150 and 11,200. Increase the position between 11,000 and 11,075. Start booking profits above 11,150.
ITC
Current price: Rs 213;
Target price: Rs 225
The stock is testing a key resistance between Rs 213 and Rs 216. If it crosses Rs 216, it could climb till Rs 225-227. Keep a stop at Rs 209 and go long. Add to the position between Rs 217 and Rs 220. Book profits above Rs 225.
NTPC
Current price: Rs 178;
Target price: Rs 183
The stock could test resistance between Rs 182 and Rs 185. Keep a stop at Rs 175 and go long. Add to the position between Rs 179 and Rs 181. Book profits at Rs 183.
FINANCIAL TECHNOLOGIES
Current price: Rs 828;
Target price: Rs 855
The stock rose from Rs 770 on a favourable court ruling. Profit-booking could push it back till Rs 800. Alternatively, it might climb till Rs 855-860. Keep a stop at Rs 815 and go long. Add to the position between Rs 835 and Rs 845. Book profits above Rs 855. If Rs 815 is broken, consider a short.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
