NIFTY
Current: 5,202 (Futures: 5,196)
Target: NA
The index looks bearish. A swing settlement session could take it till 5,100 or 5,300. Stop-loss shorts at 5,250 and stop-loss long positions at 5,150. A bearspread of long April 5,200p (28) and short April 5,100p (4) costs 24. It may increase in value if the session opens weak.
AXIS BANK
Current price: Rs 1,095
Target price: Rs 1,065
The stock is likely to test support at Rs 1,080-1,090. If that breaks, it could fall till Rs 1,055-1,065. Keep a stop at Rs 1,125 and short. Add to the position between Rs 1,075 and Rs 1,085. Book profits at Rs 1,065.
HERO MOTOCORP
Current price: Rs 2,244
Target price: Rs 2,310
The stock hit a new 52-week high and it could test resistance at Rs 2,255-2,265 on Wednesday. If it closes above Rs 2,260, it could run till Rs 2,310-2,325. Keep a stop at Rs 2,215 and go long. Add to the position between Rs 2,260 and Rs 2,270. Book profits above Rs 2,310.
WIPRO
Current price: Rs 411
Target price: Rs 370
The stock saw a breakdown on poor guidance and an S&P downgrade. It could slide till Rs 365-370 in the next 3-5 sessions. Keep a stop at Rs 420 and short. Add to the position between Rs 392 and Rs 402. Book profits below Rs 370.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
