NIFTY
Current: 5,898 (futures: 5,894)
Target: NA
The index stayed bullish. Stop loss long positions at 5,825 and stop loss shorts at 5,950. Breakouts beyond these points could go till 6,025 or 5,775. A zero-delta strangle of long 5,600p (24) and long 6,200c (13) could be a multi-bagger if it's held till the end of settlement.
BANK NIFTY
Current: 11,715 (futures: 11,750);
Target: 11,900 (11,925)
Assume futures premium of 35-50. Go long with a stop loss at futures price of 11,650. Add to the position between 11,775 and 11,800. Book profits above 11,925.
RELIANCE INDUSTRIES
Current price: Rs 886;
Target price: Rs 920
May have been a breakout. Keep a stop at Rs 870 and go long. Add to the position between Rs 889 and Rs 895. Book profits above Rs 920. If Rs 870 is broken, the next support is at Rs 862.
RELIANCE COMMUNICATIONS
Current price: Rs 132.6;
Target price: Rs 142
New 52-week high. Keep a stop at Rs 128 and go long. Add to the position between Rs 134 and Rs 136. Book profits above Rs 142.
DLF
Current price: Rs 189;
Target price: Rs 201
Keep a stop at Rs 184 and go long. Add to the position between Rs 190 and Rs 192. Book partial profits at Rs 195, reset the stop loss to Rs 189 and hold for a three-session target of Rs 201.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
