NIFTY
Current: 5,676 (futures: 5,698)
Target: NA
The index could drop till 5,600 or rise till 5,775. Stop loss shorts at 5,725 and stop loss long positions at 5,625. A bearspread of long 5,600p (40) and short 5,500p (20) costs 20 and it could double on a big downmove.
BANK NIFTY
Current price: 11,362 (fut: 11,418)
Target price: 11,550 (fut:11,600)
The underlying has support between 11,300-11,350. The futures is likely to trade at 50 points premium. If support holds, the index could bounce till 11,575-11,625 (fut:11,625-11,675). If it breaks, a fall till 11,200 is likely.
DLF
Current price: Rs 224
Target price: Rs 219
The stock suffered a spectacular crash as part of the political fallout. If support at Rs 223 breaks, it could slide till Rs 217-219. Keep stop at Rs 227 and short. Add to position at Rs 221-223. Book profits below Rs 219.
SUN PHARMA
Current price: Rs 709
Target price: Rs 725
The stock hit a new 52-week high on good volumes. It should test Rs 711-712 again and if it crosses above Rs 712, it could run till Rs 725-730. Keep a stop at Rs 701 and go long. Book profits above Rs 725.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated