NIFTY
Current: 5,258 (Nov fut: 5,273),
Target: NA
The maximum swing expectations in the next session would be 5125, 5,400. Stop-loss long futures at 5,200 and stop-loss short futures at 5,310. A strangle of long 5,000p (36) and long 5,500c (31) could gain 15-20 on a swing of 100-points.
RCOM
Current: Rs 81.8
Target: Rs 85
The stock has climbed to a one-month high and it could continue the uptrend until it hits resistance at Rs 85-86. Keep a stop at Rs 80 and go long. Add to the position between Rs 83 and Rs 84. Start booking profits above Rs 85. If the stop at Rs 80 is broken, the next support is Rs 77.
HINDALCO
Current: Rs 136
Target: Rs 130
The stock is reacting from a recent high at Rs 144. It could slide till it finds support at Rs 128-130. Keep a stop at Rs 139 and go short. Add to the position between Rs 132 and Rs 134. Start booking profits at Rs 130. If Rs 139 is broken, the next resistance is at Rs 143.
AXIS BANK
Current: Rs 1,126
Target: Rs 1,070
The stock is liable to test support at Rs 1,105-1,115 and if that breaks, it could fall till Rs 1,060-1,070. Keep a stop at Rs 1,140 and short. Add to the position between Rs 1,095 and Rs 1,105. Start booking profits below Rs 1,070. If Rs 1,140 is broken, a pullback till Rs 1,175 is possible.
MARUTI SUZUKI
Current: Rs 1,124
Target: Rs 1,070
There is key support at Rs 1,110. If that breaks, the stock could fall till Rs 1,050-1,060 in the next couple of sessions. Keep a stop at Rs 1,140 and go short. Add to the position between Rs 1,100 and Rs 1,110. Start booking profits below Rs 1,070. If Rs 1,140 is broken, the reboundcould go till Rs 1,175.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
