NIFTY
Current: 5,995 (fut: 6,009);
Target: NA
The index hardly moved yesterday. A swing session today could take it till either 5,925 or 6,075. A strangle of long 6,200c (18) and long 5,800p (22) could gain 15-20 if there is a big swing. Long futures positions should be stop lossed at 5,950 and short futures stop-lossed at 6,050.
TATA STEEL
Current price: Rs 304 ;
Target price: Rs 295
The stock could test support between Rs 292 and Rs 295. Keep a stop at Rs 307 and short. Add to the position between Rs 298 and Rs 301. Book profits at Rs 295.
JP ASSOCIATES
Current price: Rs 73;
Target price: Rs 70
The stock could drop to Rs 69-70. Keep a stop at Rs 74.5 and short. Add to the position between Rs 71 and Rs 72. Book profits below Rs 70.
BHARTI AIRTEL
Current price: Rs 317.5;
Target price: Rs 324
The stock could test resistance between Rs 324 and Rs 326. Keep a stop at Rs 313 and go long. Add to the position between Rs 319 and Rs 321. Book profits above Rs 324.
RANBAXY
Current price: Rs 456;
Target price: Rs 439
No apparent impact from the FDA case. The stock bounced from Rs 421. Support at Rs 420-425 is key. If there are no further developments, the stock will range trade Rs 435-460. Keep a stop at Rs 465 and short. Add to the position between Rs 445 and Rs 449. Book profits below Rs 439.
The target prices and projected movements given above are in terms of the next trading session, unless otherwise stated
Current: 5,995 (fut: 6,009);
Target: NA
The index hardly moved yesterday. A swing session today could take it till either 5,925 or 6,075. A strangle of long 6,200c (18) and long 5,800p (22) could gain 15-20 if there is a big swing. Long futures positions should be stop lossed at 5,950 and short futures stop-lossed at 6,050.
TATA STEEL
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Target price: Rs 295
The stock could test support between Rs 292 and Rs 295. Keep a stop at Rs 307 and short. Add to the position between Rs 298 and Rs 301. Book profits at Rs 295.
JP ASSOCIATES
Current price: Rs 73;
Target price: Rs 70
The stock could drop to Rs 69-70. Keep a stop at Rs 74.5 and short. Add to the position between Rs 71 and Rs 72. Book profits below Rs 70.
BHARTI AIRTEL
Current price: Rs 317.5;
Target price: Rs 324
The stock could test resistance between Rs 324 and Rs 326. Keep a stop at Rs 313 and go long. Add to the position between Rs 319 and Rs 321. Book profits above Rs 324.
RANBAXY
Current price: Rs 456;
Target price: Rs 439
No apparent impact from the FDA case. The stock bounced from Rs 421. Support at Rs 420-425 is key. If there are no further developments, the stock will range trade Rs 435-460. Keep a stop at Rs 465 and short. Add to the position between Rs 445 and Rs 449. Book profits below Rs 439.
The target prices and projected movements given above are in terms of the next trading session, unless otherwise stated