NIFTY
Current: 5,121 (June futures: 5,136)
Target: NA
A swing session today or tomorrow could pull the index till either 5,025 or 5,200. Stop-loss any long futures at 5,080 and stop-loss a short future at 5,175. A straddle of long June 5,100p (14) and a long June 5,200c (8) would break even if the Nifty hit either 5,078 or 5,222.
AXIS BANK
Current price: Rs 1,003
Target price: Rs 970
The stock is likely to test support between Rs 955 and Rs 970. Keep a stop at Rs 1,020 and go short. Add to the position between Rs 980 and Rs 990. Book profits below Rs 970. If it breaks Rs 1,025, it could bounce till Rs 1,050.
BHARTI AIRTEL
Current price: Rs 306
Target price: Rs 315
A pullback till around the Rs 315-318 level is possible. Keep a stop at Rs 302 and go long. Add to the position between Rs 309 and Rs 312. Book profits above Rs 315. If Rs 303 is broken, the net support is Rs 297.
HCL TECH
Current price: Rs 461
Target price: Rs 440
The stock is likely to test support at Rs 435-440 within the settlement. Keep a stop at Rs 467 and go short. Add to the position between Rs 450 and Rs 455. Book profits at Rs 440.
ONGC
Current price: Rs 277
Target price: Rs 294
The stock is testing resistance at Rs 280-282. A move above Rs 282 could lead to a move till Rs 295-300. Keep a stop at Rs 270 and go long. Add to the position between Rs 282 and Rs 285. Book profits above Rs 294.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stat