NIFTY
Current: 5,306 (futures: 5,322)
Target: NA
The index stayed tightly ranged. A big swing could take it to 5,225 or 5,375.
Stop-loss short futures at 5,350 and stop-loss long futures at 5,250. A strangle of long 5,400c (36) and long 5,200p (28) will cost 64. It could gain 15-20 if the index swings 75 points.
HINDALCO
Current price: Rs 124
Target price: Rs 119
The stock could react down till around the Rs 117-119 zone. Keep a stop at Rs 126 and short. Add to the position between Rs 121 and Rs 123. Book profits below Rs 119.
RELIANCE INDS
Current price: Rs 726
Target price: Rs 710
The stock could test the Rs 705-710 level on Wednesday. Keep a stop at Rs 735 and short. Add to the position between Rs 717 and Rs 723. Book profits at Rs 710.
YES BANK
Current price: Rs 353
Target price: Rs 362
The stock could bounce back till the Rs 362-365 mark. Keep a stop at Rs 349 and go long.
Add to the position between Rs 357 and Rs 360. Book profits beyond Rs 362.
INFOSYS
Current price: Rs 2,471
Target price: Rs 2,375
A drop below Rs 2,450 could mean a fall till the Rs 2,350-2,375 zone. Keep a stop at Rs 2,500 and short. Add to the position between Rs 2,425 and Rs 2,450. Book profits below Rs 2,375.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stat
