NIFTY
Current: 5,221 (Nov fut: 5,230),
Target: NA
The one-session expectations would be between 5,120 and 5,320. Short futures can be stop-lossed at 5,275, while long futures can be stopped at 5,175. A long strangle of long 5,000p (28) and long 5,400c (26) is near zero-delta and it could gain 15-20 if the Nifty swings 100 points.
STATE BANK OF INDIA
Current: Rs 1,862
Target: Rs 1,720
The stock could test the 52-week low of Rs 1,710 within the next 2-3 sessions and the minimum downside is between Rs 1,775 and Rs 1,800. Keep a stop at Rs 1,910 and go short. Add to the position between Rs 1,820 and Rs 1,840. Book partial profits at Rs 1,775. Hold the rest with a target of Rs 1,720.
RELIANCE CAPITAL
Current: Rs 360
Target: Rs 332
The stock is likely to test successively lower supports at Rs 340-345, and Rs 330-335 in the next two sessions. Keep a stop at Rs 372 and go short. Add to the position between Rs 350 and Rs 355. At Rs 340, you can book partial profits. Hold the rest for a target of Rs 332.
HINDUSTAN UNILEVER
Current: Rs 393
Target: Rs 405
The stock hit a new 52-week high yesterday on high volumes. It’s difficult to set targets in a new zone. A short-term target of between Rs 405 and Rs 410 is possible. Go long with a stop loss at Rs 384. Add to the position between Rs 398 and Rs 402. Either book profits above Rs 405. Or, reset the stop to Rs 397 and hold.
ITC
Current: Rs 212
Target: Rs 223
The stock is likely to test its 52-week at Rs 216. If it passes Rs 216, the next target would be Rs 223-225. Keep a stop at Rs 207 and go long. Add to the position between Rs 216 and Rs 220. Start booking profits above Rs 223.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
