NIFTY
Current: 6,011 (fut: 5,999);
Target: NA
Support at 5,950. Resistance at 6,050. Nominal futures discount. Use these benchmarks as stop losses. Breakouts could be till 6,100 or 5,900. A bullspread of long 6,100c (59) and short 6,200c (30) costs 29 and could gain 15-20 if the index hits 6,075.
BANK NIFTY
Current: 12,709 (fut: 12,676);
Target: 12,900
Volatility is guaranteed due to the credit policy. A big rate cut may drive the financial index to 12,950-13,000. On the downside, support at 12,500 may be tested and if it's broken, there could be a fall till 12,350. Keep a stop at 12,575 and go long. Add to the position between 12,750-12,800. Book profits above 12,900.
M&M FINANCIAL
Current price: Rs Rs 232;
Target price: Rs 245
The stock could have a three- session target of Rs 245-250. Keep a stop at Rs 224 and go long. Add to the position between Rs 236 and Rs 240. Book profits above Rs 245.
RCOM
Current price: Rs 105;
Target price: Rs 110
A new 52-week high on excellent volumes. Keep a stop at Rs 101 and go long. Add between Rs 106 and Rs 108. Book profits at Rs 110 or book partial profits and hold with a new stop loss of Rs 105.
TCS
Current price: Rs 1,434;
Target price: Rs 1,480
The stock has bounced off support at 1,365-1,380. It could run up till 1480-1,490. Keep a stop at 1,405 and go long. Add to the position between 1,140-1,455. Book profits above 1,480.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
