NIFTY
Current price: 5,030 (Nov fut: 5,079),
Target price: NA
The index could be due to open slightly high and move up further on short covering. One-session limits would be 4,950, 5,160. Stop-loss short futures positions at 5,100 and stop-loss long futures at 5,000. A strangle of long 5,000p (40) and long 5,100c (59) would gain 15-20 if either end is struck.
IDBI
Current price: Rs 103
Target price: Rs 112
The stock could see a potential rebound till around Rs 112-115 if there's serious short-covering before settlement. Keep a stop at Rs 100 and go long. Add to the position between Rs 105 and Rs 108. Book profits, or partial profits above Rs 111.
BPCL
Current price: Rs 516
Target price: Rs 460
The stock hit a new 52-week low on high volumes. The chart pattern suggests it could fall lower, till around Rs 450-460 before settlement. Keep a stop at Rs 530 and go short. Add to the position between Rs 490 and Rs 505. Book profits below Rs 460.
SAIL
Current price: Rs 93.65
Target price: Rs 86
A new 52-week low on high volumes. The chart patterns suggest a target of Rs 84-86 is possible. Keep a stop at Rs 97 and short. Add to the position between Rs 90 and Rs 92.5. Book profits below Rs 86. A rebound above Rs 97 could go till around Rs 102.
RELIANCE
Current price: Rs 848
Target price: Rs 885
The stock may have found sufficient support at Rs 830-840 to sustain a small rally. It could test resistance at Rs 885-890 in the next 2-3 sessions. Keep a stop at Rs 830 and go long. Add to the position between Rs 860 and Rs 870. Book profits above Rs 885.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated