NIFTY
Current: 5,099 (Oct fut: 5,115),
Target: NA
The index could test resistance between 5,100 and 5,200, or it may see a pullback till the 4,975-5,000 level. Short futures can be stop-lossed at 5,150 and long futures can be stop-lossed at 5,025. A zero-delta long 5,200c (61) and long 5,000p (60) costs 121 and will pay around 25 for a 100-point swing.
TCS
Current: Rs 1,079
Target: Rs 1,150
The stock seems to be developing a bullish pattern with good volumes. Keep a stop-loss at Rs 1,050 and go long. Add to the position between Rs 1,100 and Rs 1,120. Start booking profits above Rs 1,150. If Rs 1,050 is broken, the next support is Rs 1,020.
STATE BANK OF INDIA
Current: Rs 1,872
Target: Rs 1,820
The stock has strong resistance around Rs 1,885-1,900. If that is overcome it could go till Rs 1,950. On the downside, there’s support at Rs 1,810-1,820. Keep a stop at Rs 1,890 and short. Add to the position between Rs 1,860 and Rs 1,870. Start booking profits at Rs 1,820. If Rs 1,900 is broken, look for an upmove till Rs 1,950.
SAIL
Current: Rs 110
Target: Rs 121
The stock has moved up on decent volumes and it’s testing a key resistance at Rs 110-112. A move beyond Rs 112 would set up a possible five-session target of Rs 120-122. Keep a stop at Rs 104.5 and go long. Add to the position between Rs 112 and Rs 114. Start booking profits above Rs 120.
COAL INDIA
Current: Rs 338
Target: Rs 325
Heavy institutional selling from the Rs 345-350 level may have triggered a breakdown. There is support at Rs 330-332 but if that is broken, the stock could fall till Rs 320-325. Keep a stop at Rs 345 and short. If you have a two-session outlook, book profits between Rs 330 and Rs 332. With a five-session outlook, look for a target of Rs 323-325 and increase the position between Rs 327 and Rs 330.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
