NIFTY
Current: 7,402 (fut: 7,418);
Target: NA
Stop shorts at 7,475 and long at 7,345. Big moves could go till 7,300 or 7,525. A bullspread of long 7,400c (111) and short 7,500c (64) can be held with a stop of 40. It could gain 15-20 if the Nifty rises past 7,450.
BANK NIFTY
Current: 15,333 (futures: 15,312)
Target: 15,100
Keep a stop at 15,400 and go short. Add to the position between 15,175 and 15,200. Book profits at 15,100. (All futures prices for Nifty and Bank Nifty)
HINDALCO
Current: Rs 161
Target: Rs 155
Keep a stop at Rs 163 and short. Add to the position between Rs 156 and Rs 158. Book profits at Rs 155.
TCS
Current: Rs 2,089
Target: Rs 2,130
Keep a stop at Rs 2,070 and go long. Add to the position between Rs 2,110 and Rs 2,125. Book profits at Rs 2,130.
M&M
Current: Rs 1,220
Target: Rs 1,170
Keep a stop at Rs 1,235 and go short. Add to the position between Rs 1,185 and Rs 1,200. Book profits at Rs 1,170.
Target prices, projected movements in terms of next session, unless otherwise stated
