NIFTY
Current: 5,139 (Oct fut: 5,146),
Target: NA
The Nifty is now testing a key resistance. It could move till either 5,225, or fall till 5,050 in the next 3 sessions. Stop-loss short futures at 5,200 and stop-loss long positions at 5,100. A strangle of long 5,100p (38) and long 5,200c (34) could gain 15-20 if either end is struck by settlement.
BANK NIFTY
Current: 9,841 (Oct fut:9,856),
Target: 9,400
The financial index has support at 9,800-9,850 and resistance at 9,900-9,975. If it clears 9,975, it should run till 10,200. If it drops below 9,650, it will find the next support at 9,350-9,400. Keep a stop 9,950 and short. Add to the position between 9,600 and 9,650. Book profits below 9,450. If the stop at 9,975 is broken, reverse and go long with a stop-loss at 9,900.
BHARTI AIRTEL
Current: Rs 386
Target: Rs 395
The stock made a smart recovery and it could move up till around the Rs 395 level in the next 3 sessions. Keep a stop at Rs 380 and go long. Add to the position between Rs 389 and Rs 392. Start booking profits above Rs 395
WIPRO
Current: Rs 358
Target: Rs 340
The stock has been range-trading between Rs 335 and Rs 365 and this pattern is likely to continue. Keep a stop at Rs 365 and go short. Add to the position between Rs 350 and Rs 355. Start booking profits at Rs 340. If Rs 365 is broken, the stock could rise till around Rs 390 but that's unlikely to happen within the settlement.
DLF
Current: Rs 239
Target: Rs 255
There's a key band of resistance between Rs 240 and Rs 243. But if that is overcome a target of Rs 255 is possible within the settlement. Keep a stop at Rs 235 and go long. Add to the position between Rs 243 and Rs 247. Book profits above Rs 255.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
