NIFTY
Current: 5,274 (futures: 5,302)
Target: NA
A big session could pull the Nifty to either 5,200 or 5,350. Stop-loss shorts at 5,325 and stop-loss long positions at 5,225. A long strangle of long 5,100p (22) and long 5,400c (40) remains worth holding. It would gain substantially on a big move in either direction.
IDFC
Current price: Rs 129.5
Target price: Rs 126
The stock hit a one-month low and if the downtrend continues, it could slide till around the Rs 124-126 level. Keep a stop at Rs 131 and go short. Add to the position between Rs 127 and Rs 128. Start booking profits below Rs 126.
POWERGRID
Current price: Rs 124
Target price: Rs 127
The stock made a breakout to a new high of Rs 124.7. It could move till Rs 127-128 if the trend is maintained. Keep a stop at Rs 122 and go long. Add to the position between Rs 125 and Rs 126. Book profits above Rs 127.
HINDALCO
Current price: Rs 103.75
Target price: Rs 101
The stock hit a new 52-week low of Rs 102.3 and despite a recovery late in the session, it could head down again, to a level of Rs 100-101. Keep a stop at Rs 105 and short. Add to the position between Rs 102 and Rs 103. Book profits below Rs 101.
DABUR INDIA
Current price: Rs 128
Target price: Rs 131
The stock hit a new 52-week high of Rs 129 yesterday. It could move higher, till the Rs 131-132 level. Keep a stop at Rs 126.5 and go long. Add to the position between Rs 129 and Rs 130. Book profits above Rs 131.
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The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated