NIFTY
Current: 5,290 (April futures: 5,321)
Target: NA
The index looks fairly bullish and set to test resistance at 5,375. A big session could take it till 5,400 or 5,200. A bullspread of long 5,400c (30) and short 5,500c (9) costs 21 and it could double in value if the index crosses 5,400.
BANK NIFTY
Current: 10,520 (April futures: 10,563)
Target: 10,700
The financial index responded positively to the rate cut. It could run up till the 10,700-10,750 levels. Keep a stop at 10,475 and go long. Add to the position between 10,600 and 10,650. Book profits above 10,700.
RCOM
Current price: Rs 89;
Target: Rs 92
The short-term trend seems to be positive. The stock could rise till around the Rs 92-93 level. Keep a stop at Rs 87 and go long. Add to the position between Rs 90 and Rs 91. Start booking profits above Rs 92.
TCS
Current price: Rs 1,091;
Target price: Rs 1,060
The stock could see speculative support prior to the results on Monday. It has room for a run-up till somewhere between Rs 1,055 and Rs 1,075. Keep a stop at Rs 1,070 and go long. Add to the position between Rs 1,110 and Rs 1,125. Book profits above Rs 1,060.
COAL INDIA
Current price: Rs 350;
Target price: Rs 337
The stock bounced on news. It has key resistance between Rs 355 and Rs 360 and that will be tested. If the resistance holds, the stock could correct back till around Rs 335-337. Keep a stop at Rs 358 and go short. Add to the position between Rs 340 and Rs 345. Book profits below Rs 337.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated