NIFTY
Current: 5,288 (July futures: 5,302)
Target: NA
The index is range trading with an upwards bias. A swing session could take it to either 5,375 or 5,200. Stop-loss shorts at 5,325 and stop-loss long positions at 5,225. The bullspread of long 5,400c (46) and short 5,500c (21) is worth holding.
BHARTI AIRTEL
Current price: Rs 319
Target price: Rs 330
The stock could run till Rs 329-332. Keep a stop at Rs 314 and go long. Add tothe position between Rs 322 and Rs 325. Book profits above Rs 330.
TCS
Current price: Rs 1,239
Target price: Rs 1,210
The stock could test support at Rs 1,200-1,210 if the downtrend continues. Keep a stop at Rs 1,255 and go short. Add to the position between Rs 1,220 and Rs 1,230. Book profits below Rs 1,210.
HDFC
Current price: Rs 675
Target price: Rs 690
The upmove might continue till the Rs 690-695 level. Keep a stop at Rs 665 and go long. Add to the position between Rs 678 and Rs 685. Book profits above Rs 690.
BPCL
Current price: Rs 760
Target price: Rs 775
A pullback till the Rs 770-775 level is possible and if resistance at Rs 776 is cleared, the stock could run till Rs 790. Keep a stop at Rs 745 and go long. Add to the position between Rs 763 and Rs 768. Book profits or partial profits at Rs 775.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated