BHARTI AIRTEL
Current price: Rs 320
Target price: Rs 328
The stock is at a key resistance. If it moves above Rs 324, it could rise till Rs 328-330. Keep a stop at Rs 315 and go long. Add to the position between Rs 323 and Rs 326. Book profits above Rs 328.
TATA STEEL
Current price: Rs 407
Target price: Rs 390
The stock is at a key support of Rs 405-410. If it drops below Rs 409.5, it is likely to fall till Rs 385-390. If Rs 405-410 holds, a recovery till Rs 425 is likely. Keep a stop at Rs 415 and go short. Add to the position between Rs 396 and Rs 404. Book profits below Rs 390.
TCS
Current price: Rs 1,207
Target price: Rs 1,165
The stock could test support at Rs 1,155-1,165. Keep a stop at Rs 1,235 and short. Add to the position between Rs 1,180 and Rs 1,195. Book profits below Rs 1,165.
HDFC BANK
Current price: Rs 583
Target price: Rs 565
The stock is reacting from a recent high. It should find support between Rs 560 and Rs 565. Keep a stop at Rs 593 and go short. Add to the position between Rs 575 and Rs 580. Book profits below Rs 565.
NIFTY
Current: 5,197 (futures: 5,208)
Target: NA
The index appears to have made a breakdown. It could move till 5,125 or 5,275 in another swing session. Stop-loss shorts at 5,250 and stop-loss long positions at 5,150. Continue to hold the bearspread of long 5,200p (51) and short 5,100p (19). It could gain 20 if the Nifty drops to 5,150.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
