NIFTY
Current: 5,585 (July fut: 5,608)
Target: NA Despite the rebound, the overall trend still looks bearish. The index could fall again, till 5,400, or push up further till 5,650. If you hold a short future, keep a stop-loss at 5,650 or hedge with a long 5,700c(43). A straddle of long 5,600p (76) and long 5,600c (86) would gain around 15-20 in value if the Nifty swings by 100 points in either direction.
IDFC
Current: Rs 134.5
Target: Rs 141
The stock has found support between Rs 128-130 and it's moving up again. It should tests resistance at Rs 141-142. Keep a stop at Rs 131 and go long. Add to the position between Rs 136-138 and reset the stop to Rs 134. Start booking profits above Rs 141.
TCS
Current: Rs 1,149
Target: NA
The stock's likely to see enhanced volatility over the next five sessions. Currently it's in a band of Rs 1,120-1,180 and breakouts could go till Rs 1,230 or Rs 1,050. Watch for a breakout outside Rs 1,120-1,180 and take a position in the direction of the breakout. Use Rs 1,130 or Rs 1,170 as stop-losses,respectively, for short and long positions.
SESA GOA
Current: Rs 287
Target: Rs 278
The stock seems to have landed at reasonable support but the upside is bounded by big resistances at Rs 291-292. It's likely to test support between Rs 275-280 again. Keep a stop at Rs 291 and short. Add to the position between Rs 283-285 and reset the stop to Rs 288. Start booking profits below Rs 278.
HIND UNILEVER
Current: Rs 331
Target: Rs 340
The stock has seen a profit booking and a correction from recent highs of Rs 348. It's likely to move up again and test resistance at Rs 340-342 in a 3-session timeframe. Keep a stop at Rs 325 and go long. Add to the position between Rs 334-337 and reset the stop to Rs 331. Book profits above Rs 340.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
