NIFTY
Current: 5,760 (fut: 5,794);
Target: NA
A big session could take the index till 2,850 or 2,690 with the futures traded at 30-40 points premium on underlying. Stop-loss long positions at 5,715 (futures price: 2,745) and stop-loss shorts at 5,820 (futures 2,850). Hold the bullspread of long 5,800c (65) and short 5,900c (28) – it could gain 15-20 if 5,800 is cleared.
UNION BANK
Current: Rs 232;
Target: Rs 242
A huge bounce came on strong volumes. The stock could react till Rs 227 or rise till Rs 242-245. Keep a stop at Rs 226 and go long. Add to the position between Rs 235 and Rs 238. Book profits above Rs 242.
TATA POWER
Current: Rs 104;
Target: Rs 101
The stock could slide till it hits support between Rs 99 and Rs 101. Keep a stop at Rs 105.5 and short. Add to the position between Rs 102 and Rs 103. Book profits below Rs 101.
AMBUJA CEMENT
Current: Rs 218;
Target: Rs 223
The stock could test its 52-week high of Rs 223 and if it breaks past, it may go till Rs 227-228. Keep a stop at Rs 215 and go long. Add to the position between Rs 219.5 and Rs 221. Book profits above Rs 223 or book partial profits and hold with a three-session timeframe for a target of Rs 227.
DLF
Current: Rs 212;
Target: Rs 217
The stock has a target of Rs 217-219. Keep a stop at Rs 208 and go long. Add to the position between Rs 213 and Rs 215. Book profits above Rs 217.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated