NIFTY
Current: 5,899 (futures: 5,931)
Target: NA
A swing session could pull the index till 5,825 or 5,975 with the futures trading at 30-40 points premium. Stop loss shorts at 5,950 (futures price 5,980) and stop loss long positions at 5,850 (fut: 5,880). Hold a bullspread of long 6,000c (34) and short 6,100c (12) – it will double if the index rises past 5,950.
HINDUSTAN UNILEVER
Current price: Rs 545
Target price: Rs 560
The stock should test resistance at around Rs 560-565. Keep a stop at Rs 535 and go long. Add to the position between Rs 550 and Rs 555. Book profits above Rs 560.
HINDALCO
Current price: Rs 120
Target price: Rs 116
The stock is likely to react until the Rs 114-116 level. Keep a stop at Rs 122 and short. Add to the position between Rs 117 and Rs 118.5. Book profits below Rs 116.
HCL TECH
Current price: Rs 614
Target price: Rs 590
If support between Rs 600-606 breaks, the stock could fall till Rs 590. Keep a stop at Rs 622 and go short. Add to the position between Rs 600 and Rs 605. Book profits at Rs 590.
UNION BANK
Current price: Rs 250
Target price: Rs 246
A pullback till Rs 244-246 is possible. Keep a stop at Rs 261 and short. Add to the position between Rs 249 and Rs 252. Book profits below Rs 246.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated