NIFTY
Current: 5,235 (futures: 5,247)
Target: NA
Another down trending session could take the index to 5,150, while a pullback might take it to 5,300. Stop-loss short futures at 5,275 and stop-loss long futures at 5,200. A bearspread of long 5,200p (45) and short 5,100p (20) costs 25 and it could double on a bearish session.
HDFC BANK
Current price: Rs 580
Target price: Rs 590
The stock could test resistance at Rs 590-595.Keep a stop at Rs 575 and go long. Add to the position between Rs 583 and Rs 588. Book profits above Rs 590.
INFOSYS
Current price: Rs 2,265
Target price: Rs 2,200
Further test of support at Rs 2,200 is likely. If the stock drops below Rs 2,175, it could fall till Rs 2,100 in a three-session perspective. Keep a stop Rs 2,300 and short. Add to the position between Rs 2,220 and Rs 2,245. Book profits or partial profits at Rs 2,200.
BHARTI AIRTEL
Current price: Rs 306
Target price: Rs 290
The stock is testing key support at Rs 302-305. If it falls below Rs 301, it could drop till Rs 285-290. Keep a stop at Rs 312 and short. Add to the position between Rs 297 and Rs 302. Book profits below Rs 290.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stat