NIFTY
Current: 5,899 (futures: 5,941)
Target: NA
Futures premium is high. Stop-loss long positions at 5,800 and stop-loss shorts at 5,950 (all futures prices). Breakouts could go till 6,050 or 5,750. A wide strangle of long 5,700p (37) and long 6,100c (46) is expensive but it could gain 15-20, given a big swing in two-three sessions.
BANK NIFTY
Current: 10,447 (futures: 10,525);
Target: 10,800/ 10,150
Futures premium has risen sharply ahead of FOMC policy. Keep a stop at 10,350 (futures price) and go long. Add to the position between 10,550 and 10,600. Book profits or partial profits at 10,800. If 10,350 is broken, a fall till 10,150 is likely.
BHEL
Current: Rs 129.75;
Target: Rs 123/ 138
If the sell-off continues, the stock could drop till Rs 122-123. Or it will recover till Rs 139-140. Keep a stop at Rs 133 and short. Add to the position between Rs 126 and Rs 127. Book profits below Rs 123. If the stock breaks Rs 133, consider going long with a stop at Rs 132 and an initial target of Rs 138.
Current: 5,899 (futures: 5,941)
Target: NA
Futures premium is high. Stop-loss long positions at 5,800 and stop-loss shorts at 5,950 (all futures prices). Breakouts could go till 6,050 or 5,750. A wide strangle of long 5,700p (37) and long 6,100c (46) is expensive but it could gain 15-20, given a big swing in two-three sessions.
BANK NIFTY
Current: 10,447 (futures: 10,525);
Target: 10,800/ 10,150
Futures premium has risen sharply ahead of FOMC policy. Keep a stop at 10,350 (futures price) and go long. Add to the position between 10,550 and 10,600. Book profits or partial profits at 10,800. If 10,350 is broken, a fall till 10,150 is likely.
BHEL
Current: Rs 129.75;
Target: Rs 123/ 138
If the sell-off continues, the stock could drop till Rs 122-123. Or it will recover till Rs 139-140. Keep a stop at Rs 133 and short. Add to the position between Rs 126 and Rs 127. Book profits below Rs 123. If the stock breaks Rs 133, consider going long with a stop at Rs 132 and an initial target of Rs 138.
The target prices and projected movements are in terms of the next session, unless otherwise stated