NIFTY
Current: 5,200 (futures: 5,214)
Target: NA
The index jumped sharply ahead of the credit policy. A big session could move the market till either 5,300 or 5,100. Stop-loss long positions at 5,150 and stop-loss shorts at 5,250. A bullspread of long 5,300c (53) and short 5,400 (25) costs 28 and it will gain 15-20 if the index crosses 5,250.
AXIS BANK
Current price: Rs 1,040
Target price: Rs 1,010
The stock will respond sharply to the credit policy. It could jump till Rs 1,080-1,100 on a big rate cut or drop till Rs 990-1,010. Keep a stop at Rs 1,055 and go short. Add to the position between Rs 1,020 and Rs 1,030. Book profits below Rs 1,010. Go long if the stock rises above Rs 1,060.
POWER GRID
Current price: Rs 118
Target price: Rs 122
The stock hit a new 52-week high. It could move till Rs 122-124 over this week. Keep a stop at Rs 116 and go long. Add to the position between Rs 119 and Rs 121. Book profits above Rs 122.
RELIANCE INFRA
Current price: Rs 500
Target price: Rs 485
The stock is liable to correct downwards after a sharp spike. It could fall back till Rs 480-485. Keep a stop at Rs 508 and short. Add to the position between Rs 490 and Rs 495. Book profits below Rs 485.
INFOSYS
Current price: Rs 2,210
Target price: Rs 2,275
The stock has bounced off a recent 52-week low. The upside could be till Rs 2,275-2,300. Keep a stop at Rs 2,180 and go long. Add to the position between Rs 2,220 and Rs 2,240. Book profits beyond Rs 2,275. If Rs 2,180 is broken, consider shorting with a target of Rs 2,130.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated.
