NIFTY
Current: 5,236 (February futures: 5,270);
Target: NA
Heavy buying in the last hour pushed the index beyond the 200 Day Moving Average. It should be bullish with a three sessions target of 5,375-5,400. The downside could be till 5,125 on a sell off. Stop-loss long futures at 5,175 and short futures at 5,275. The prior recommendation of a long 5,300c (88) and short 5,400c (48) can be held for more gains.
MARUTI SUZUKI
Current price: Rs 1,215;
Target price: Rs 1,250
The stock has repeatedly tested resistance above Rs 1,225 before correcting downwards to support at the Rs 1,180-1,190 levels. It made some net gains yesterday. If it breaks Rs 1,230, it could push till Rs 1,250-1,260. Keep a stop at Rs 1,190 and go long. Add to the position between Rs 1,230 and Rs 1,240. Book profits above Rs 1,250.
BHARTI AIRTEL
Current price: Rs 361;
Target price: Rs 346
The news-related selloff across the telecom sector could continue through the next two-three sessions. There could be a slide till the Rs 345-346 levels. Keep a stop at Rs 367 and go short. Add to the position between Rs 352 and Rs 355. Book profits below Rs 346.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated