NIFTY
Current: 5,229 (futures: 5,239)
Target: NA
The Nifty could swing between 5,150 and 5,300 today if there's a big session. Stop-loss short positions at 5,275 and stop-loss long positions at 5,175. A bearspread of long 5,200p (73) and short 5,100p (42) costs 31 and it could gain 15-20 if the index falls below 5,170.
BANKNIFTY
Current: 10,384 (futures: 10,442)
Target: 10,225
The financial index held stable despite the lack of monetary easing. However, it could slide today till around the 10,200-10,225 mark. Keep a stop at 10,500 and short. Add to the position between 10,275 and 10,325. Book profits below 10,225.
ONGC
Current price: Rs 286
Target price: Rs 293
The stock could test resistance at the Rs 293-296 zone if it’s bullish for another session. Keep a stop at Rs 282 and go long. Add to the position between Rs 288 and Rs 290. Book profits beyond Rs 293.
BHARTI AIRTEL
Current price: Rs 300
Target price: Rs 290
There is key support between Rs 298 and Rs 302. Below that, the stock is likely to test Rs 287-290. Keep a stop at Rs 306 and go short with a three-session timeframe. Add to the position between Rs 295 and Rs 298. Book profits at Rs 290.
STERLITE
Current price: Rs 107
Target price: Rs 110
The stock could test resistance at Rs 110-112 if it crosses resistance at the current price. Keep a stop at Rs 104 and go long. Add to the position between Rs 108 and Rs 109. Book profits above Rs 110.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
