NIFTY
Current: 5,360 (March futures: 5,389);
Target: NA
The index seems mildly bullish and it could stay this way till the Budget. One session swings could take it till 5,225, or 5,475. The prior recommendation of long 5,000p (24) and long 5,400c (116) is in profit and can be held. A bullspread of long 5,500c (72) and short 5,600c (41), which costs 31 could also be profitable on a further rise.
LARSEN & TOUBRO
Current price: Rs 1,349;
Target price: Rs 1,400
The stock is testing key resistance between Rs 1,345 and Rs 1,360. If it crosses Rs 1,360, it could rise till Rs 1,400-1,415. Keep a stop at Rs 1,320 and go long. Add to the position between Rs 1,360 and Rs 1,375. Book profits above Rs 1,400.
STATE BANK OF INDIA
Current price: Rs 2,311;
Target price: Rs 2,400
The stock has bounced 10 per cent in just three sessions. If it moves above resistance at Rs 2,325, it could run till Rs 2,400. Keep a stop at Rs 2,275 and go long. Add to the position between Rs 2,330 and Rs 2,345. Start booking profits above Rs 2,400
RELIANCE INDUSTRIES
Current price: Rs 799;
Target price: Rs 845
The stock has huge resistance between Rs 805 and Rs 815 and it could run up till Rs 845-855 if it moves above 815. On the downside, it could fall till Rs 775-780 if it breaks support at 790. Keep a stop at Rs 790 and go long with a three sessions timeframe. Add to the position between Rs 815 and Rs 825. Book profits above Rs 845.
TCS
Current price: Rs 1,189;
Target price: Rs 1,120
The stock's in the middle of a reaction. If support at Rs 1,180-1,190 breaks, it could fall till Rs 1,100-1,120. Keep a stop at Rs 1,210 and short. Add to the position between Rs 1,165 and Rs 1,175. Start booking profits below Rs 1,120. If Rs 1,210 is broken, a bounce till Rs 1,240 is likely.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
