NIFTY
Current: 6,049 (fut: 6,061)
Target: NA
A correction after several small gains. A swing session today could move the index till 5,990 or back till 6,100-plus. The strangle of long 6,000p (24) and long 6,100c (23) has breakevens at 5,950, 6,150 and it’s zero-delta. Stop-loss shorts at 6,080 and stop-loss long positions at 6,015.
YES BANK
Current price: Rs 509
Target price: Rs 525
The stock has corrected from a recent high of Rs 545 to support at Rs 495 and may be bullish again. It could have a target of Rs 525-530. Keep a stop at Rs 499 and go long. Add to the position between Rs 515 and Rs 520. Book profits above Rs 525.
HUL
Current price: Rs 481
Target price: Rs 465
The stock lost ground on disappo-inting results. It could test support at Rs 460-465 and if that breaks, it might fall till Rs 440. Keep a stop at Rs 490 and short. Add to the position between Rs 470 and Rs 475. Book profits or partial profits at Rs 465.
MARUTI SUZUKI
Current price: Rs 1,570
Target price: Rs 1,610
The stock could move up to a new high of Rs 1,610-1,620 in anticipation of results. Keep a stop-loss at Rs 1550 and go long. Add to the position between Rs 1,590 and Rs 1,600. Book profits or partial profits above Rs 1,610.
ONGC
Current: Rs 337;
Target price: Rs 345
The stock's reacted from a recent high of Rs 355 to bounce from support at Rs 332. If the trend has turned bullish again, it could go till Rs 345-350 today. Keep a stop at Rs 332 and go long. Add to the position between Rs 341 and Rs 343. Book profits above Rs 345.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated