NIFTY
Current: 4,765 (Futures: 4,777);
Target: NA
The index went up on volume expansion and this could continue for another session.One-session expectations would be a maximum of 4,625 or 4,900. Stop loss long futures at 4,700 and short futures at 4,825. The previously recommended strangle of long 4,800c (101) and long 4,500p (36) is in profit. But, it will gain another 10-15 if 4,800c is struck.
TATA MOTORS
Current: Rs 194;
Target: Rs 204
The stock could test major resistance at 195-196. If it crosses 196, it may have a run till 205. On the downside, the first reliable support is at 185-186. Keep a stop at 191 and go long. Add to the position between 196-198. Book profits above 204.
COAL INDIA
Current: Rs 327;
Target: Rs 340
The stock is recovering from a sharp downtrend. It has major resistance at 330-332. If that is beaten, it could climb till 340-342. If it runs into selling pressure, a fall till 318-320 is possible. Keep a stop at 324 and go long. Add to the position between 332-335. Book profits at 340.
DLF
Current: Rs 191;
Target: Rs 197
The stock could have an upside till resistance at 196-198. Equally, if it collapses, it could fall till 182. Keep a stop at 188 and go long. Add to the position between 193-194. Book profits at 197. If 188 is broken, consider a short with a stop loss at 191.
IDFC
Current: Rs 96;
Target: Rs 99
The stock is bouncing from a sequence of successive 52-week lows. It could have an upside till 99-100 or fall back till 90 if the short-covering momentum is exhausted. Keep a stop at 93.5 and go long. Add to the position between 97-98. Book profits above 99.
The target price and projected movements given above are in terms of the next one trading session
