NIFTY
Current: 5,216 (futures: 5,226);
Target: NA
The index recovered from support at 5,170. A swing today could move it till 5,150 or 5,300. Stop-loss shorts at 5,275 and stop-loss long positions at 5,175. A long 5,100p (10) and long 5,300c (18) is worth holding since it could double on a big swing.
TATA MOTORS
Current price: Rs 222;
Target price: Rs 235
The stock has bounced off support at Rs 215-218. It could recover till the Rs 235-240 level. Keep a stop at Rs 218 and go long. Add to the position between Rs 224 and Rs 227. Book profits above Rs 235.
PUNJAB AND NATIONAL BANK
Current price: Rs 832;
Target price: Rs 815
Another burst of selling could pull the stock down till Rs 810 and Rs 815. Keep a stop at Rs 840 and short. Add to the position between Rs 824 and Rs 828. Book profits below Rs 815.
RELIANCE INDUSTRIES
Current price: Rs 716;
Target price: Rs 695
The stock could fall till Rs 690-695 if the current support at Rs 712-720 is broken. Keep a stop at Rs 725 and short. Add to the position between Rs 705 and Rs 712. Book profits below Rs 695.
JINDAL STEEL & POWER
Current price: Rs 427;
Target price: Rs 439
The stock is recovering off support at Rs 410-415. It could bounce till Rs 439-442 or collapse back till Rs 415 again. Keep a stop at Rs 420 and go long. Add to the position between Rs 429 and Rs 433. Book profits above Rs 439.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
