Nifty
Current: 10,599 (fut: 10,599), target: NA
Stop-long positions at 10,500. Stop-short positions at 10,700. Big moves could go till 10,800, 10,400. Excess volatility possible due to the Monetary Policy Review. A long 10,400p (139), long 10,800c (115) can be offset with a short 10,300p (112), short 10,900c (77) to create a position with breakevens at 10,346, 10,854.
Bank Nifty
Current: 24,819 (fut: 24,737)
Target: NA
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Stop-long positions at 24,550. Stop-short positions at 24,975. Big moves could go till 25,250, 24,250. Excess volatility likely to due to the Monetary Policy Review. Trend likely to stay down unless the MPC cuts interest rates.
HDFC
Current price: Rs 1,778
Target price: Rs 1,755
Keep a stop at Rs 1,795 and go short. Add to the position between Rs 1,760 and Rs 1,770.
Book profits at Rs 1,755.
Axis Bank
Current price: Rs 586
Target price: Rs 575
Keep a stop at Rs 592 and go short. Add to the position between Rs 577 and Rs 579.
Book profits at Rs 575.
Target prices, projected movements in terms of next session, unless otherwise stated