NIFTY
Current: 8,342 (fut: 8,467)
Target: NA
Stop-loss short positions at 8,525. Stop-long positions at 8,390. Futures premium should decline to 65-75. Continuing downtrend could test support at spot Nifty 8,300. A long 8,300p (80), short 8,200p (55), could gain 15-20 if the April futures fell to 8,350.
BANK NIFTY
Current: 17,831 (futures: 18,170)
Target: 17,725 (futures: 17,975)
Excessive premium on futures. Keep a stop at 18,300 and short. Add to the position 18,000-18,025.
Book profits at 17,975.
ONGC
Current price: Rs 301
Target price: Rs 296
Keep a stop at Rs 304 and go short. Add to the position between Rs 297 and Rs 298. Book profits at Rs 296.
TATA STEEL
Current price: Rs 316
Target price: Rs 311
Keep a stop at Rs 319 and short. Add to the position between Rs 312 and Rs 313. Book profits at Rs 311.
DLF
Current price: Rs 159
Target price: Rs 155
Keep a stop at Rs 161 and short. Add to the position between Rs 156 and Rs 157. Book profits at Rs 155.
Current: 8,342 (fut: 8,467)
Target: NA
Stop-loss short positions at 8,525. Stop-long positions at 8,390. Futures premium should decline to 65-75. Continuing downtrend could test support at spot Nifty 8,300. A long 8,300p (80), short 8,200p (55), could gain 15-20 if the April futures fell to 8,350.
BANK NIFTY
Current: 17,831 (futures: 18,170)
Target: 17,725 (futures: 17,975)
Excessive premium on futures. Keep a stop at 18,300 and short. Add to the position 18,000-18,025.
Book profits at 17,975.
ONGC
Current price: Rs 301
Target price: Rs 296
Keep a stop at Rs 304 and go short. Add to the position between Rs 297 and Rs 298. Book profits at Rs 296.
TATA STEEL
Current price: Rs 316
Target price: Rs 311
Keep a stop at Rs 319 and short. Add to the position between Rs 312 and Rs 313. Book profits at Rs 311.
DLF
Current price: Rs 159
Target price: Rs 155
Keep a stop at Rs 161 and short. Add to the position between Rs 156 and Rs 157. Book profits at Rs 155.
Target prices, projected movements in terms of next session, unless otherwise stated