NIFTY
Current: 4,861 (May futures: 4,845)
Target: NA
The index could swing till 4,775 or 4,950 if the trend remains volatile. Stop-loss long positions at 4,800 and stop-loss short positions at 4,900. A bearspread of long 4,800p (52) and short 4,700p (24) may be worth holding – it could double in value if the index drops to 4,775.
SESA GOA
Current price: Rs 184
Target price: Rs 172
The stock is pulling back from a high and it could slide till it finds support between Rs 170 and Rs 174. Keep a stop at Rs 189 and short. Add to the position between Rs 176 and Rs 180. Book profits below Rs 172.
AXIS BANK
Current price: Rs 966
Target price: Rs 935
The stock might test resistance at Rs 975-980. If it fails to beat that resistance, it could fall back till the Rs 930-940 mark. Keep a stop at Rs 975 and short. Add to the position between Rs 950 and Rs 960. Book profits below Rs 935.
MARUTI SUZUKI
Current price: Rs 1,154
Target price: Rs 1,100
If the selling persists, the auto stock could fall till the Rs 1,085-1,100 levels. Keep a stop at Rs 1,170 and short. Add to the position between Rs 1,125 and Rs 1,140. Book profits below Rs 1,100.
TCS
Current price: Rs 1,224
Target price: Rs 1,275
The stock could rise till around Rs 1,240-1,250 and a breakout past Rs 1,250 may take it till Rs 1,270-1,280. Keep a stop at Rs 1,205 and go long. Add to the position between Rs 1,240 and Rs 1,250. Book profits at Rs 1,275.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated