NIFTY
Current: 5,719 (futures: 5,759)
Target: NA
The index is range trading between 5,675 and 5,735 but the futures has positive carry. A breakout/breakdown could take it till either 5,775 or 5,650. A bullspread of long 5,800c (68) and short 5,900c (34) costs 34 and could gain 15-20 on an upmove.
AMBUJA CEMENT
Current price: Rs 209.5
Target price: Rs 214
The stock has hit successive 52-week highs on good volumes. If it moves past the current high of Rs 211, it could run till Rs 214-215. Keep a stop at Rs 205 and go long. Add to the position between Rs 210 and Rs 211. Book profits above Rs 214.
TATA MOTORS
Current price: Rs 275
Target price: Rs 282
The stock could test resistance at Rs 281-282 and if that is broken, it may rise till Rs 288-290. Keep a stop at Rs 271 and go long. Add to the position between Rs 277 and Rs 279. Book profits or partial profits at Rs 282.
DLF
Current price: Rs 229
Target price: Rs 224
A correction till the Rs 222-224 level is likely. Keep a stop at Rs 232 and go short. Add to the position between Rs 225 and Rs 227. Book profits below Rs 224.
YES BANK
Current price: Rs 395
Target price: Rs 388
The stock hit a new 52-week high at Rs 395. However volumes have eased off and the banking sector trend looks weak. A correction till Rs 385-388 is possible. Keep a stop at Rs 399 and go short. Add to the position between Rs 390 and Rs 392. Book profits below Rs 388.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
