NIFTY
Current: 5,415 (futures: 5,405)
Target: NA
New 2013 low at 5,360. Use that as stop-loss for long positions. Stop-loss shorts at 5,475. Breakouts could be till 5,300 or 5,530. A bearspread of long 5,300p (48) and short 5,200p (26) costs 22. It could double if 5,300 is struck.
BANK NIFTY
Current: 9,145 (futures: 9,108)
Target: 8,900
The futures discount should ease but a new 52-week low was hit at 9,087. Keep a stop at 9,250 (futures price) and short. Add to the position between 8,950 and 9,950. Book profits below 8,900.
IDFC
Current price: Rs 101.05;
Target price: Rs 97
Keep a stop at Rs 103.5 and short. Add to the position between Rs 98 and Rs 99. Book profits below Rs 97.
LARSEN & TOUBRO
Current price: Rs 737;
Target price: Rs 715
Keep a stop at Rs 750 and short. Add to the position between Rs 730 and Rs 735. Book profits below Rs 715. A move past Rs 750 could see a bounce till Rs 765.
JP ASSOCIATES
Current price: Rs 30.85;
Target price: Rs 28
The stock bounced from a 52-week low of Rs 28.35. Keep a stop at Rs 32.5 and short. Add to the position between Rs 29.75 and Rs 30.50. Book profits or partial profits at Rs 28.
Current: 5,415 (futures: 5,405)
Target: NA
New 2013 low at 5,360. Use that as stop-loss for long positions. Stop-loss shorts at 5,475. Breakouts could be till 5,300 or 5,530. A bearspread of long 5,300p (48) and short 5,200p (26) costs 22. It could double if 5,300 is struck.
BANK NIFTY
Current: 9,145 (futures: 9,108)
Target: 8,900
The futures discount should ease but a new 52-week low was hit at 9,087. Keep a stop at 9,250 (futures price) and short. Add to the position between 8,950 and 9,950. Book profits below 8,900.
IDFC
Current price: Rs 101.05;
Target price: Rs 97
Keep a stop at Rs 103.5 and short. Add to the position between Rs 98 and Rs 99. Book profits below Rs 97.
LARSEN & TOUBRO
Current price: Rs 737;
Target price: Rs 715
Keep a stop at Rs 750 and short. Add to the position between Rs 730 and Rs 735. Book profits below Rs 715. A move past Rs 750 could see a bounce till Rs 765.
JP ASSOCIATES
Current price: Rs 30.85;
Target price: Rs 28
The stock bounced from a 52-week low of Rs 28.35. Keep a stop at Rs 32.5 and short. Add to the position between Rs 29.75 and Rs 30.50. Book profits or partial profits at Rs 28.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated