NIFTY
Current: 4,921 (Futures: 4,923) Target: NA
Another swing session could pull the index till 5,025 or 4,825. Stop loss long positions at 4,857 and stop loss short positions at 4,975. A strangle of long 5,000c(25) and long 4,800p (21) could gain 50 per cent if there's a big swing.
BANK NIFTY
Current price: 9,437 (Futures: 9,420) Target: 9,250
There's a lot of resistance between 9,450-9,500. On the downside, the index could drop till 9,200-9,250 on a sell off. Keep a stop at 9,525 and go short. Add to the position betwenn 9,325 and 9,375. Book profits below 9,250.
HDFC
Current price: Rs 664
Target price: Rs 685
The stock could test resistance between 672-678 and a breakout beyond 678 might push it till 685-690. Keep a stop at 652 and go long., Add to the position between 669 and 675. Book profits above 685.
ONGC
Current price: Rs 258
Target price: Rs 270
The stock could test resistance between 268-272. Keep a stop at 252 and go long. Add to position between 262-265. Book profits above 270.
MARUTI
Current price: Rs 1,145
Target price: Rs 1,115
The stock is likely to test support at 1,100-1,115. Keep a stop at 1,160 and go short. Add to the position between 1,125-1,140. Start booking profits below 1,115.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated