NIFTY
Current: 5,705 (futures: 5,751 )
Target: NA
The index saw narrow range trading but the futures closed at a large premium suggesting the new settlement could open bullish. A big session could see a swing till 5,775 or 5,625. A bullspread of long 5,800c (37) and short 5,900c (16) costs 21 and it could gain 10-15 on an upmove.
YES BANK
Current price: Rs 416.5
Target price: Rs 425
The stock hit a new 52-week high on good volumes. It could run till the Rs 425-430 level or correct on profit-booking till the Rs 400 level. Keep a stop at Rs 410 and go long. Add to the position between Rs 418 and Rs 422. Book profits beyond Rs 425.
JP ASSOCIATES
Current price: Rs 95.3
Target price: Rs 99
The stock has a potential target of Rs 99-100 if it can beat resistance at Rs 96-97. Keep a stop at Rs 94 and go long. Add to the position between Rs 96 and Rs 97. Book profits above Rs 99.
HCL TECH
Current price: Rs 609
Target price: Rs 619
The stock hit a new high at Rs 619-620 before reversjng on profit booking. It could test those levels again. Keep a stop at Rs 601 and go long. Add to the position between Rs 612 and Rs 616. Book profits above Rs 619.
M&M
Current price: Rs 858
Target price: Rs 875
The price surged going into settlement with high volumes. It could move till the Rs 875-880 levels. Keep a stop at Rs 845 and go long. Add to the position between Rs 862 and Rs 867. Book profits above Rs 875.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated