NIFTY
Current: 6,203 (futures: 6,230);
Target: NA
The index ranged traded yesterday. Stop-loss short positions at 6,275 and stop-loss long positions at 6,175. Breakouts could go till 6,325 or till 6,125. A long 6,100p (21) and long 6,300c (30) costs total 51 and this strangle could gain 10-15 if the index swings 75 points in either direction.
PNB
Current price: Rs 549;
Target price: Rs 535
Keep a stop at Rs 555 and go short. Add to the position between Rs 540 and Rs 545. Book profits below Rs 535.
HINDALCO
Current price: Rs 124;
Target price: Rs 132
Breakout. Keep a stop at Rs 120 and go long with a three-session timeframe. Add to the position at Rs 125-127. Book profits above Rs 132.
INFOSYS
Current price: Rs 3,443;
Target price: Rs 3,510
Keep a stop at Rs 3,400 and go long. Add to the position between Rs 3,455 and Rs 3,485. book profits beyond Rs 3,510.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
