NIFTY
Current: 5,699 (futures: 5,702)
Target: NA
The bearish trend continues. Support at 5,675, with further supports every 25 points down. Resistance at 5,725, with more at 25-point intervals up. Stop loss shorts at 5,750. Stop loss long positions at 5,650. A bearspread with long 5,500p (22) and short 5,400p (10) could double if Nifty drops below 5,650.
JINDAL STEEL & POWER
Current price: Rs 237;
Target price: Rs 225
The stock is due for another burst of panic selling. Keep a stop at Rs 242 and short. Add to the position between Rs 231 and Rs 234. Book profits at Rs 225.
TATA MOTORS
Current price: Rs 283;
Target price: Rs 270
The stock may have seen a breakdown. Keep a stop at Rs 290 and short. Add to the position between Rs 275 and Rs 279. Book profits below Rs 270.
SESA GOA
Current price: Rs 139.65;
Target price: Rs 132
New 52-week low at Rs 138-139. Keep a stop at Rs 144 and short. Add to the position between Rs 136 and Rs 138. Book profits below Rs 132.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
