NIFTY
Current: 5,115 (futures: 5,105)
Target: NA
The session ended bearish. A swing tomorrow could take the index till 5,000 or till 5,200. Despite expiry being close, a long June 5,000p (9) and long 5,200c (8) could pay off. If either end is struck by settlement, there’ll be big returns.
BANK NIFTY
Current: 9,925 (futures: 9,870)
Target: 9,675
The financial index reacted down from highs of 10,200. It could slide till 10,625-10,650. Keep a stop at 10,000 and short. Add to the position between 9,800 and 9,850. Book profits below 9,675.
HINDALCO
Current price: Rs 115
Target price: Rs 109
The stock is likely to test support at Rs 108-109. Keep a stop at Rs 118 and short. Add to the position between Rs 112 and Rs 113.5 Book profits below Rs 109. If Rs 118 is broken, the stock could bounce till Rs 122.
GAIL
Current price: Rs 344
Target price: Rs 360
The stock seems to have developed a small uptrend. It's likely to test resistance between Rs 360 and Rs 365. Keep a stop at Rs 340 and go long. Add to the position between Rs 350 and Rs 355. Book profits above Rs 365
HERO MOTOCORP
Current price: Rs 2,031
Target price: Rs 1,970
The stock could slide till support at Rs 1,950-1,975. Keep a stop at Rs 2,055 and short. Add to the position between Rs 2,000 and Rs 2,020. Start booking profits at Rs 1,970. If Rs 2,055 is broken, the bounce could go till Rs 2,100.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stat