NIFTY
Current: 5,001 (Sept Future: 5,014),
Target: NA
The index has jumped 250 points in two sessions and moved above the 10-day moving average. The uptrend could last till 5,125. Retracements could drop till 4,850. Long futures may be stop-lossed at 4,900-4,925 and short futures stop lossed at 5,050-5,075. A bullspread of long 5,100c (82) and short 5,200c (47) costs a net 34 and will gain 15-20 if the Nifty rises 100 points. A straddle of long 5,000c (131) and long 5,000p (116) could gain 25-30 if the market swings 100 points.
BANK NIFTY
Current: 9,533 (Sept Future: 9,540),
Target: 9,800
The financial index is poised at a key resistance. If it can break out above 9,550, it could rise till 9,850. On the downside, there's support at 9,450 and 9,350. Keep a stop-loss at 9,425 and go long. Add to the position between 9,600-9,650. Book profits above 9800. If the index drops below 9,350, short with a target of 9,200 and a stop at 9,375.
DLF
Current: Rs 197
Target: Rs 205
The stock has very powerful resistance at Rs 205 but it could test those levels in the next session. Keep a stop at Rs 193 and go long. Add to the position between Rs 199-201 and reset the stop to Rs 198. Start booking profits at Rs 205. If Rs 193 is broken, the stock could fall till Rs 188.
MARUTI
Current: Rs 1,092
Target: Rs 1,135
The stock's pulling back from a recent low of Rs 1,047. It has strong resistance at Rs 1,100 and if that is crossed, it could rise till Rs 1,135. On the downside, if support at Rs 1,080-1,090 is broken, it could fall back till Rs 1,050. Keep a stop at Rs 1,080 and go long. Add to the position between Rs 1,100-1,110. Book profits above Rs 1,135. If Rs 1,080 is broken, go short with a target of Rs 1,050 and a stop-loss at Rs 1,090.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
