NIFTY
Current: 5,368 (February futures: 5,394);
Target: NA
The index continues to range trade. A breakout could take it till 5,250, or 5,500. Stop-loss short futures at 5,425 and long futures at 5,300. A long strangle of long 5,200p (33) and long 5,500c (45) costs 78 and it could gain 20-25 if there's a big swing in either direction.
ONGC
Current price: Rs 283;
Target price: Rs 272
A reaction till around Rs 270-272 is likely within the next three sessions. Keep a stop at Rs 288 and go short. Add to the position between Rs 277 and Rs 280. Start booking profits below Rs 272. If Rs 287 is broken, consider a reversal and going long, since the target will be Rs 300.
DLF
Current price: Rs 237;
Target price: Rs 226
The stock has hit a double-top between Rs 238 and Rs 240. If it passes those levels, it could rise till Rs 250. But the formation suggests a reaction till Rs 225-229. Keep a stop at Rs 240 and go short. Add to the position between Rs 229 and Rs 232. Book profits below Rs 226.
SESA GOA
Current price: Rs 227;
Target price: Rs 237
The stock has a potential upside till between Rs 235 and Rs 240. Keep a stop at Rs 222 and go long. Add to the position between Rs 230 and Rs 232. Start booking profits above Rs 236. If Rs 222 is broken, there will be a reaction till Rs 215-217.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
