NIFTY
Current: 5,890 (futures: 5,926)
Target: NA
Resistance between 5,878 and 5,900 and support at 5,850. Breakouts could go till 5,950 or 5,800. Stop-loss shorts at 5,920 and stop-loss long positions at 5,840. Futures (all index prices) will trade at 30-40 premium. Hold a long 6,000c (52) and short 6,100c (25).
RELIANCE INDUSTRIES
Current : Rs 825;
Target: Rs 840
The stock could have a target of Rs 840-850 if the uptrend sustains. Keep a stop at Rs 815 and go long. Add to the position between Rs 825 and Rs 835. Book profits above Rs 840.
TCS
Current: Rs 1,299;
Target: Rs 1,325
A sharp selloff on low volume. There's support at Rs 1,285-1,290. If that holds, the stock should bounce till Rs 1,325-1,340. Keep a stop at Rs 1,280 and go long. Add to the position between Rs 1,305 and Rs 1,320 and book profits above Rs 1,325. If Rs 1,380 breaks, the next support is Rs 1,270.
ICICI BANK
Current: Rs 1,119;
Target: Rs 1,145
The stock hit a new high at Rs 1,122-1,123 though the move came with low volumes. If the breakout is valid, the stock could move till Rs 1,145-1,155. Keep a stop at Rs 1,105 and go long. Add to the position between Rs 1,125 and Rs 1,135. Book profits above Rs 1,145.
SESA GOA
Current: Rs 180;
Target: Rs 170
A pullback till Rs 166-170 is possible. Keep a stop at Rs 186 and short. Add to the position between Rs 174 and Rs 178. Book profits below Rs 170.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated