NIFTY
Current: 5,415 (futures: 5,405)
Target: NA
New 2013 low at 5,360. Use that as stop-loss for long positions. Stop-loss shorts at 5,475. Breakouts could be till 5,300 or 5,530. A bearspread of long 5,300p (48) and short 5,200p (26) costs 22. It could double if 5,300 is struck.
BANK NIFTY
Current: 9,145 (futures: 9,108)
Target: 8,900
The futures discount should ease but a new 52-week low was hit at 9,087. Keep a stop at 9,250 (futures price) and short. Add to the position between 8,950 and 9,950. Book profits below 8,900.
IDFC
Current price: Rs 101.05;
Target price: Rs 97
Keep a stop at Rs 103.5 and short. Add to the position between Rs 98 and Rs 99. Book profits below Rs 97.
LARSEN & TOUBRO
Current price: Rs 737;
Target price: Rs 715
Keep a stop at Rs 750 and short. Add to the position between Rs 730 and Rs 735. Book profits below Rs 715. A move past Rs 750 could see a bounce till Rs 765.
JP ASSOCIATES
Current price: Rs 30.85;
Target price: Rs 28
The stock bounced from a 52-week low of Rs 28.35. Keep a stop at Rs 32.5 and short. Add to the position between Rs 29.75 and Rs 30.50. Book profits or partial profits at Rs 28.
