Nifty
Current: 5,568 (futures: 5,560);
Target: NA
The index had a good session. Stop-loss shorts at 5,635 and stop-loss long positions at 5,545. Breakouts could go till 5,500 or 5,675. A strangle of long 5,500p (40) and long 5,700c (14) costs 54 and could gain 15-20 if there's a 75 point swing.
ONGC
Current price: Rs 319;
Target price: Rs 325
The stock has strong resistance at Rs 325 and it is likely to test that. A breakout could push it till Rs 335-340 levels. Keep a stop at Rs 315 and go long. At Rs 324-325, book partial profits and hold the rest for a target of Rs 335 with a stop-loss at Rs 321.
JP Associates
Current price: Rs 71.85;
Target price: Rs 75
The stock could not sustain above a resistance band at Rs 72.5-74.5. The next resistance is at Rs 78. Keep a stop at Rs 70 and go long. The initial target is Rs 75. If that is achieved, book partial profits and hold the rest for a target of Rs 78.
YES Bank
Current price: Rs 458;
Target price: Rs 472
If the stock beats resistance at Rs 462-465, it could run till the Rs 472-475 level. Keep a stop at Rs 452 and go long. Add to the position between Rs 463 and Rs 466. Book profits at above Rs 472.
TCS
Current price: Rs 1,473;
Target price: Rs 1,375
The stock hit a one-month low at around Rs 1,450 ahead of results. It could fall till Rs 1,350-1,375 or rise till Rs 1,550-1,575 on Tuesday, with results due Wednesday. The trend is bearish. Keep a stop at Rs 1,515 and short. Add to the position between Rs 1,425 and Rs 1,450. Book profits
below Rs 1,375.
Current: 5,568 (futures: 5,560);
Target: NA
The index had a good session. Stop-loss shorts at 5,635 and stop-loss long positions at 5,545. Breakouts could go till 5,500 or 5,675. A strangle of long 5,500p (40) and long 5,700c (14) costs 54 and could gain 15-20 if there's a 75 point swing.
ONGC
Current price: Rs 319;
Target price: Rs 325
The stock has strong resistance at Rs 325 and it is likely to test that. A breakout could push it till Rs 335-340 levels. Keep a stop at Rs 315 and go long. At Rs 324-325, book partial profits and hold the rest for a target of Rs 335 with a stop-loss at Rs 321.
JP Associates
Current price: Rs 71.85;
Target price: Rs 75
The stock could not sustain above a resistance band at Rs 72.5-74.5. The next resistance is at Rs 78. Keep a stop at Rs 70 and go long. The initial target is Rs 75. If that is achieved, book partial profits and hold the rest for a target of Rs 78.
YES Bank
Current price: Rs 458;
Target price: Rs 472
If the stock beats resistance at Rs 462-465, it could run till the Rs 472-475 level. Keep a stop at Rs 452 and go long. Add to the position between Rs 463 and Rs 466. Book profits at above Rs 472.
TCS
Current price: Rs 1,473;
Target price: Rs 1,375
The stock hit a one-month low at around Rs 1,450 ahead of results. It could fall till Rs 1,350-1,375 or rise till Rs 1,550-1,575 on Tuesday, with results due Wednesday. The trend is bearish. Keep a stop at Rs 1,515 and short. Add to the position between Rs 1,425 and Rs 1,450. Book profits
below Rs 1,375.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated