Nifty
Current: 5,870 (futures: 5,935)
Target: NA
The futures premium is likely to ease down till about 40-50. The index was a little bearish on settlement. A swing session on Thursday could go till 5,950 or 5,825. Stop-loss shorts at 5,925 (futures 5,975) and stop-loss long positions at 5,825 (futures 5,870). Wait for January premiums to settle before opening any option positions.
ICICI Bank
Current price: Rs 1,137
Target price: Rs 1,110
A pullback till the Rs 1,105-1,110 level is likely. Keep a stop at Rs 1,145 and go short. Add to the position between Rs 1,125 and Rs 1,135. Book profits at Rs 1,110.
Reliance Industries
Current price: Rs 818
Target price: Rs 790
If support between Rs 805 and Rs 815 breaks, a fall till Rs 780-790 is possible. Keep a stop at Rs 827 and short. Add to the position between Rs 805 and Rs 815. Book profits below Rs 790.
IDFC
Current price: Rs 171
Target price: Rs 178
Good support at Rs 168-169. If that holds, the stock could run up till Rs 177-179 again. Keep a stop at Rs 168 and go long with a three-session timeframe. Add to the position between Rs 174 and Rs 176. Book profits at Rs 178.
Jindal Steel & Power
Current price: Rs 447
Target price: Rs 430
The stock is at key support. If it falls below Rs 442, it could drop to Rs 425-430. Keep a stop at Rs 455 and short. Add to the position between Rs 437 and Rs 440. Book profits below Rs 430.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated