NIFTY
Current: 5,699 (futures: 5,714);
Target: NA
The index could hit limits of resistance at 5,750 and support at 5,650 today (spot prices). Assume futures premium of 15-20 and use those points as stop-losses. Breakouts could be till 5,600 or 5,800. A bullspread of long 5,800c (44) and short 5,900c (18) costs 26 and it could rise by 15 if the index rises till 5,750.
BANK NIFTY
Current: 9,986 (fut: 10,028);
Target price: 9,725
The financial index came off a new 52-week low at 9,582. Despite the big bounce, it is hitting major resistance above between 10,050 and 10,125 (futures price: 10,100-10,175). Keep a stop at 10,100 (spot price) and short. Add to the position between 9,850-9,950. Book profits below 9,725.
DLF
Current price: ~149.5;
Target price: ~157
Keep a stop at ~144 and go long. Add to the position between ~152 and ~154. Book profits above ~157. If ~144 is broken, the stock could drop till ~139.
INFOSYS
Current price: ~3,083;
Target price: ~3,150
A 52-week high at ~3,094. Keep a stop at ~3,060 and go long. Add to the position at ~3,095-3,110. Book profits at ~3,150.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
