NIFTY
Current: 5,627 (futures: 5,640)
Target: NA
The index could swing between 5,700 and 5,550 today with the futures at a nominal premium. Stop-loss shorts at 5,670 and stop-loss long positions at 5m580. Hold the long strangle of long 5,500p (4) and long 5,700c (12). It could double on a 75-point move in either direction.
STATE BANK OF INDIA
Current price: Rs 2,098
Target price: Rs 2,140
The stock could trend up till Rs 2,140-2,155. Keep a stop at Rs 2,080 and go long. Add to the position between Rs 2,115 and Rs 2,130. Book profits above Rs 2,140.
LARSEN & TOUBRO
Current price: Rs 1,591
Target price: Rs 1,635
The stock could move till between Rs 1,635 and Rs 1,645. Keep a stop at Rs 1,575 and go long. Add to the position between Rs 1,600 and Rs 1,615. Book profits above Rs 1,635.
TATA MOTORS
Current price: Rs 259
Target price: Rs 248
The stock could test support at Rs 245-248. Keep a stop at Rs 264 and go short. Add to the position between Rs 251 and Rs 254. Book profits at Rs 248.
BPCL
Current price: Rs 326
Target price: Rs 312
Crucial support between Rs 323 and Rs 326. If that is broken, a fall till Rs 306-312 is possible. Keep a stop at Rs 329 and go short with a three-session timeframe. Add to the position between Rs 319 and Rs 322. Book profits below Rs 312.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated