NIFTY
Current: 4,874 (Jan Futures: 4,897);
Target: NA
The index made a small gain yesterday. One session swings could be till 4750, or 4,975 stop-loss long positions at 4,825, and stop-loss short positions at 4,925 . The prior recommendation of a long 4,900c (70) and short 5,000c (30) could gain 15-20 on an upmove. A strangle of long 4,600p (9) and long 4,900c (70) also remains tempting.
IDBI BANK
Current price: Rs 91,
Target price: Rs 96
The stock seems capable of outperforming the Bank Nifty over the next couple of sessions. It could rise till Rs 95-96, or maybe, Rs 98-99. Keep a stop at Rs 89 and go long. Add to the position between Rs 93 and Rs 94. Start booking profits above Rs 96.
TATA CONSULTANCY SERVICES
Current price: Rs 1,109;
Target price: NA
The stock firmed up slightly, ahead of results. It may swing anywhere between Rs 1,065 and Rs 1,150 today. Use the Rs 1,100 level as a pivot. If it trades lower than Rs 1,100, short with a target of Rs 1,070 and a stop-loss at Rs 1,105. If it trades higher than Rs 1,100, go long with a stop-loss at Rs 1,095.
RELIANCE INDUSTRIES
Current price: Rs 713;
Target price: Rs 690
The stock could test its 52-week lows in the Rs 685-695 range again within the next three sessions. Keep a stop at Rs 720 and go short. Add to the position between Rs 698 and Rs 705. Start booking profits at Rs 690. If Rs 720 is broken, there could be an upside till Rs 735.
MARUTI SUZUKI
Current price: Rs 1,008;
Target price: Rs 1,035
The stock may be developing a short-term uptrend. It has a potential target of Rs 1,035-1,040, assuming it passes resistance at Rs 1,020. Keep a stop at Rs 995 and go long. Add to the position between Rs 1,020 and Rs 1,025. Start booking profits above Rs 1,035. If Rs 995 is broken, there may be a drop till Rs 980.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
