NIFTY
Current: 4,544 (December Fututes: 4,567);
Target: NA
Two successive 52-week lows equals a strong downtrend. One session expectations could be 4,450, or 4,650. A bearspread of long 4,500p (53) and short 4,400p (26) costs 27 and pays a maximum 73. It will gain 20-25 if there's a 100-point drop. A long 4,400p (26) and long 4,700c (31), which would gain10-15 if there's a 100-point move in either direction.
IDBI BANK
Current price: Rs 83;
Target price : Rs 78
One of several banking stocks that have hit new lows. The initial target could be Rs 77-78.
Keep a stop at Rs 86 and go short. Add to the position between Rs 81 and Rs 82.5. Start booking profits below Rs 78. If the Rs 86 stop-loss is broken, the stock could bounce till Rs 91 so, reverse and go long.
IDFC
Current price: Rs 101;
Target price: Rs 96
The stock has hit a new 52-week low and it could fall into double figures. If it falls below Rs 100, it could slide till the Rs 95-96 mark. Keep a stop at Rs 104 and go short. Add to the position between Rs 99 and Rs 100. Book profits below Rs 96.
BHARTI AIRTEL
Current price: Rs 323;
Target price: Rs 316
The telecom major could slide lower till around the Rs 315-317 mark in the next three sessions. It may in a 10-session timeframe test its 52-week lows at Rs 304-305. Keep a stop at Rs 328 and go short. Add to the position between Rs 318 and Rs 321. Book profits below Rs 316.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
