NIFTY
Current: 4,971 (Future: 4,983)
Target: NA
If the index beats resistance between 4,975 and 5,000, it could rise till 5,100, though there’s resistance at 25-point intervals. If it falls below 4,925, it could drop till 4,825. Stop-loss long futures positions at 4,925. Stop-loss short futures at 5,025. A long 5,100c (7) and long 4,800p (5) could pay off big on a 125-150 point swing.
YES BANK
Current: Rs 272
Target: Rs 262
The stock has bearish intermediate pattern and strong resistance between Rs 275 and Rs 280. It is likely to test support at Rs 260-265 again within the settlement. Keep a stop at Rs 277 and go short. Add to the position between Rs 267-270. Book profits below Rs 263.
COAL INDIA
Current: Rs 358
Target: Rs 346
The stock made a downside breakout and a recovery on short-covering. It's likely to fall again, till around the Rs 345-347 level. Keep a stop at Rs 364 and go short. Add to the position between Rs 351-355. Start booking profits below Rs 347.
TCS
Current: Rs 1,041
Target: Rs 1,080
The stock has a pattern of range-trading Rs 950-1,075 and it is trending towards the upper limits of that zone. It could hit resistance at Rs 1,080. If that is overcome, it might move till Rs 1,120. Keep a stop at Rs 1,020 and go long with an initial target of Rs 1,080. Either book profits at Rs 1,080 or book partial profits, reset the stop to Rs 1,060 and be prepared to carryover.
TATA MOTORS
Current: Rs 156
Target: Rs 149
The stock has recovered on short covering but on low volumes. It has resistance between Rs 158-161 and it could fall till Rs 149-150. Keep a stop at Rs 159 and go short. Add to the position between Rs 151-153. Start booking profits below Rs 149.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated