NIFTY
Current: 5,631 (fut: 5,647 )
Target: NA
The support held at 5,600. Futures traded at 25 points premium to underlying. A big session could move the index till 5,535 (fut: 5,550) or 5,665 (fut: 5,700). Stop loss shorts at 5,650 (fut: 5,680) and stop loss long positions at 5,570 (fut: 5,600). A bearspread of long 5,600p (34) and short 5,500p (12) could gain 15-20 on a downtrend.
STATE BANK OF INDIA
Current price: Rs 2,154
Target price: Rs 2,105
The stock could fall till Rs 2,090-2,110 if the downtrend continues. Keep a stop at Rs 2,175 and short. Add to the position between Rs 2,120 and Rs 2,140. Book profits around Rs 2,105.
HCL TECHNOLOGIES
Current price: Rs 621
Target price: Rs 632
The stock hit a new high at Rs 632 but it fell back to Rs 620 on heavy profit-booking. It could test the Rs 630-635 level again. Keep a stop at Rs 614 and go long. Add to the position between Rs 624 and Rs 630. Book profits above Rs 632.
TATA STEEL
Current price: Rs 375
Target price: Rs 365
The stock could have a downside till Rs 363-365. Keep a stop at Rs 381 and go short. Add to the position between Rs 370 and Rs 374. Book profits below Rs 365. If Rs 381 is broken, the next resistance is at Rs 385.
BHARTI AIRTEL
Current price: Rs 290.3
Target price: Rs 296
The stock could rise till around the Rs 295-297 levels or fall back till Rs 282. Keep a stop at Rs 287 and go long, Add to position between Rs 292 and Rs 294. Book profits above Rs 296.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated