NIFTY
Current: 4,848 (futures: 4,850)
Target: NA
The index bounced from a new three-month low at 4,770. A swing session could push it till either 4,750 or 4,950. Stop-loss long positions at 4,775 and stop-loss shorts at 4,925. A long 5,000c (53) and a long 4,700p (65) could gain 15-20 on a big swing.
BANK NIFTY
Current: 9,362 (futures: 9,360)
Target: 9,525
The financial index bounced from support between 9,050 and 9,100. If hopes of rate cuts persist, it could pull back till the 9,550 level. Keep a stop at 9,250 and go long. Add to the position between 9,425 and 9,475. Book profits above 9,525. If 9,250 is broken, expect a fall till 9,050.
BPCL
Current price: Rs 717
Target price: Rs 745
The stock could climb till the Rs 740-750 level. Keep a stop at Rs 705 and go long. Add to the position between Rs 725 and Rs 730. Book profits above Rs 745. If Rs 705 is broken, it could fall till Rs 680.
LARSEN & TOUBRO
Current price: Rs 1,174
Target price: Rs 1,200
There was quite a lot of volume action as the stock bounced from Rs 1,100. It could run till around the Rs 1,195-1,205 level. Keep a stop at Rs 1,160 and go long. Add to the position between Rs 1,180 and Rs 1,190. Book profits above Rs 1,200.
BHARTI AIRTEL
Current price: Rs 295
Target price: Rs 280
The stock is likely to test support near Rs 280-282 and it may fall further till a possible low of Rs 272. Keep a stop at Rs 300 and go short. Add to the position between Rs 286 and Rs 290. Book profits or partial profits at Rs 280.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stat