NIFTY
Current: 5,265 (Nov fut: 5,310),
Target: NA
The strong closing and futures premium suggests a bullish bias and the index could open high. The one-session swing limits would be 5,130-5,425. Stop-loss long futures at 5,200 and stop-loss short futures at 5,350. A long 5,000p (30) and long 5,500c (35) could gain 15-20 on a 100-points swing.
IDBI
Current: Rs 113.5
Target: Rs 107
A fall to test support between Rs 105 and Rs 106 is likely. Keep a stop at Rs 116 and short. Add to the position between Rs 109 and Rs 111. Start booking profits below Rs 107. If 116 is broken, the next resistance is at Rs 119.
BHEL
Current: Rs 331
Target: Rs 340
The stock could continue its rebound till somewhere between Rs 340 and Rs 345. Keep a stop at Rs 323 and go long. Add to the position between Rs 333 and Rs 336. Start booking profits above Rs 340. If Rs 323 is broken, the next support is at Rs 317.
TATA STEEL
Current: Rs 462
Target: Rs 445
The stock is reacting down from a recent high of Rs 490-492. It is likely to find support somewhere between Rs 440 and Rs 450 in the next three sessions. Keep a stop at Rs 470 and go short. Add to the position between Rs 450 and Rs 455. Start booking profits at Rs 445.
DLF
Current: Rs 246
Target: Rs 255
The stock could swing anywhere between Rs 235 and Rs 255 in the next couple of sessions. Tentatively, go long with a stop at Rs 242 and a target of Rs 255. Increase the position between Rs 250 and Rs 252. If the stop at Rs 242 is broken, go short with a stop at Rs 246 and a target of Rs 235.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated