NIFTY
Current: 5,075 (Sept Fut: 5,081),
Target: NA
The index could rise till 5,125 before hitting resistance. Or, it could fall till support at 4,950. Breakouts beyond 4,950-5,125 could go till 4,850 or 5,200. Long futures should have a stop-loss at 5,025; short futures stop-loss at 5,125. Continue holding the previous recommendation of long 5,200c (60) and long 4,800p (37). It could gain 15-25 on a 100-point swing.
BANK OF BARODA
Current: Rs 771
Target: Rs 720
The stock is bouncing off recent lows. It has resistance between Rs 775-780, if it crosses that level, it could move till Rs 800. On the downside, it could fall till Rs 720 in the next three sessions. Keep a stop at Rs 780 and go short. Add to the position between Rs 750-760. Book profits below Rs 720. If Rs 780 is broken, consider a long position with a stop at Rs 770 and a target of Rs 800.
RELIANCE INDUSTRIES
Current: Rs 836
Target: Rs 860
The stock has a potential upside till it hits resistance between Rs 860-865. On the downside, there's good support between Rs 815-825. Keep a stop at Rs 820 and go long. Add to the position between Rs 840-850. Book profits at Rs 860. If Rs 815 is broken, the next support will be Rs 790.
TCS
Current: Rs 1,042
Target: Rs 1,090
The stock has a positive short-term trend. It also has strong resistance at Rs 1,045-1,060 and a very volatile intra-day pattern. If it crosses Rs 1,060, it could rise till the Rs 1,090-1,100 level in three sessions. If it breaks below Rs 1,010, it could drop till Rs 975. Keep a stop at Rs 1,020 and go long. Add to the position between Rs 1,055-1,065. Book profits above Rs 1,090. If Rs 1,010 is broken on the downside, reverse and go short with a stop at Rs 1,035 and an initial target of Rs 980.
BHARTI AIRTEL
Current: Rs 387
Target: Rs 372
The stock has strong support at Rs 370-375 and strong resistance between Rs 391-395. Keep a stop at Rs 392 and go short. Add to the position between Rs 380-385. Start booking profits below Rs 372. If the stock rises above Rs 395, consider reversing with a target of Rs 405 and a stop-loss at Rs 392.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
