Nifty
Current: 5,897 (futures: 5,905)
Target: NA
Support at 5,825, use this as stop loss for long positions. Resistance at 5,925, use this as stop-loss for shorts. Potential upside is 6,025, if resistance at 5,925 breaks. So, a bullspread of long 6,000c (94) and short 6,100c (56) costs 38 and pays a possible 62.
Tata Motors
Current: Rs 349.6;
Target: Rs 360
Breakout to a new 52-week high at Rs 353-354. Keep a stop at Rs 343 and go long with a three-session timeframe. Add to the position between Rs 353 and Rs 355. Book profits above Rs 360. If Rs 343 is broken, the correction could go till Rs 335.
JP Associates
Current: Rs 40.9;
Target: Rs 46
Keep a stop at Rs 39 and go long. Add to the position between Rs 41.5 and Rs 42.5. Book profits above Rs 46. A drop below Rs 39 could mean a correction till Rs 34-35.
The target prices and projected movements given above are in terms of the next trading session, unless otherwise stated
