NIFTY
Current: 4,861 (Jan Futures: 4,873);
Target: NA
One-session moves on the Nifty could go till 4,750, or 4,975. Hold the prior recommendation of a bullspread of long 4,900c (77) and short 5,000c (38) this will gain 15-20 if the Nifty goes to 4,900-plus. Cash out the prior recommended strangle of long 4,900c (77) and long 4,600p (18) if the Nifty hits 4,950.
IDFC
Current price: Rs 105;
Target price: Rs 109
The stock is rebounding strongly off recent 52-week lows. It could have a run till the Rs 110 level if it breaks resistance between Rs 106 and Rs 107. Keep a stop at Rs 103 and go long. Add to the position between Rs 106.5 and Rs 108. Book profits above Rs 109. If Rs 102 is broken, expect a fall till Rs 99.
INFOSYS
Current price: Rs 2,827;
Target: Rs 2,700
The stock declined ahead of results, along with other IT majors. It has key support at Rs 2,800 and key resistance at Rs 2,900. Breakouts could go till Rs 2,650, or Rs 2,950. The trend is bearish. Keep a stop at Rs 2,875 and go short. Add to the position between Rs 2,775 and Rs 2,800 and slide the stop down to Rs 2,830. Book profits below Rs 2,700.
HDIL
Current price: Rs 71;
Target price: Rs 74
The stock saw a lot of buying. If the trend persists, it could pushed past resistance at Rs 72, to hit the Rs 74-75 level. Keep a stop at Rs 69 and go long. Add to the position between Rs 72 and Rs 73. Start booking profits beyond Rs 74. A fall below Rs 69, could mean a slide till Rs 66.
STERLITE INDUSTRIES
Current price: Rs 101;
Target price: Rs 106
There’s a lot of resistance at Rs 103-104. If that is beaten, the stock could move till Rs 107 in the next three sessions. Keep a stop at Rs 98 and go long. Add to the position between Rs 103 and Rs 104. Book profits above Rs 106. If 98 is broken, the next support would be Rs 96.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated