NIFTY
Current: 4,734 (December Futures: 4,753);
Target: NA
If the uptrend lasts through today, the index will test resistance between 4,800 and 4,850. One session expectations could be 4,850, or 4,625 on the downside. The previously recommended long 4,600p (20) and long 4,800c (45) stands to gain 15-20 if either end is struck.
BANK NIFTY
Current: 8,384 (December Futures: 8,395);
Target: 8,650
The financial index will hit serious resistance between 8,450 and 8,500. If it crosses that, it could rise till 8,650. On the downside, if support at 8,300 breaks, the Bank Nifty will slide till around 8,150. Tentatively keep a stop at 8,300 and go long. If it crosses 8,500, add to the position between 8,500 and 8,550. Book profits at 8650. If 8,300 is broken, short with a stop at 8,350.
DLF
Current price: Rs 198;
Target price: Rs 192
The real estate major will run into a big resistance at Rs 201-202. If it can pass that, it could rise till Rs 209. If it reacts from Rs 202, it will probably fall back till Rs 191-192. Keep a stop at Rs 202 and go short. Add to the position between Rs 194 and Rs 196. Book profits at Rs 192.
HIND UNILEVER
Current price: Rs 408;
Target price: Rs 417
A new high from Hind Unilever (HUL) could mean a continued uptrend. Resistance at Rs 412-413 is likely to be tested. If that breaks, a rise till Rs 417-418 is possible. Keep a stop at Rs 401 and go long. Add to the position between Rs 412 and Rs 414. Book profits at above Rs 416.
BHARTI AIRTEL
Current price: Rs 335;
Target price: Rs 322
The stock’s reacted from resistance and it’s likely to slide again until it tests support around Rs 320-322. Keep a stop at Rs 342 and short. Add to the position between Rs 326 and Rs 330. Book profits below Rs 322. If Rs 342 is broken, a rise till Rs 350 is possible.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
