NIFTY
Current: 4,966 (May futures: 4,974)
Target: NA
A trending session could move the index till 4,850 or 5,075. Put stop-losses at 5,025 (short) and 4,025 (long). Hold a bearspread of long 4,900p (76) and short 4,800p (46). It could gain 10-15 on a downmove.
IDFC
Current price: Rs 119
Target price: Rs 112
The stock saw a small recovery and it's likely to slide again, to test support at Rs 110-113. Keep a stop at Rs 122 and go short. Add to the position between Rs 114 and Rs 116. Book profits below Rs 112.
JP ASSOCIATES
Current price: Rs 60
Target price: Rs 55
The stock is likely to fall till the Rs 52-54 level, if it breaks support at Rs 59-60. Keep a stop at Rs 63 and short. Add to the position between Rs 57 and Rs 58.5. Book profits at Rs 55. If it rises above Rs 64, a bounce till Rs 70 is possible.
TATA STEEL
Current price: Rs 416
Target price: Rs 395
The stock hit a three-month low yesterday and a target of Rs 390-395 looks likely. Keep a stop at Rs 425 and short. Add to the position between Rs 400 and Rs 410. Book profits below Rs 395.
MARUTI SUZUKI
Current price: Rs 1,262
Target price: Rs 1,215
There's key support in the Rs 1,250-1,260 zone. If that breaks, the stock could hit Rs 1,200-1,215. Keep a stop at Rs 1,285 and short. Add to the position between Rs 1,240 and Rs 1,250. Book profits below Rs 1,215. If the stop at Rs 1,285 breaks, the stock could bounce till Rs 1,310.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated