NIFTY
Current: 5,050 (futures: 5,035)
Target: NA
The index is just below the resistance at the 200-day moving average. It could move till 5,125 or 4,975 on a big session. Stop-loss shorts at 5,100 and stop-loss long positions at 5,000. Hold the bullspread of long 5,100c (69) and short 5,200c (35). It could gain another 15-20 if the index moves till 5,100.
AXIS BANK
Current price: Rs 1,057
Target price: Rs 1,100
If the uptrend continues, the stock could test resistance between Rs 1,095 and Rs 1,110 in the next three sessions. Keep a stop at Rs 1,040 and go long. Add to the position between Rs 1,065 and Rs 1,075. Book profits above Rs 1,100.
RCAP
Current price: Rs 337
Target price: Rs 350
The stock could have a target of Rs 350-355 if the breakout is valid. It could fall back till Rs 320 on a correction. Keep a stop at Rs 330 and go long. Add to the position between Rs 339 and Rs 342. Book profits above Rs 350. If Rs 330 is broken, short with a target of Rs 320.
NTPC
Current price: Rs 155
Target price: Rs 161
The stock closed strong and it could have an upside till Rs 161-162 level. Keep a stop at Rs 152 and go long. Add to the position between Rs 157 and Rs 159. Book profits above Rs 161.
WIPRO
Current price: Rs 401
Target price: Rs 394
The stock is in downtrend that could test support between Rs 392 and Rs 394. Keep a stop at Rs 405 and go short. Add to the position between Rs 397 and Rs 398. Book profits below Rs 394. Or if you can hold the position 3-5 sessions. Look for a downtrend till Rs 387.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stat
