Nifty
Current: 5,705 (futures: 5,722)
Target: NA
The index traded sideways with a slight upwards bias. A swing session could take it to either 5,775 or 5,625. Stop loss long positions at 5,645 and stop loss shorts at 5,755. The bearspread of long 5,600p (31) and short 5,500p (14) is worth holding. It could easily double on a downtrend.
YES Bank
Current price: Rs 394
Target price: Rs 401
A bounce till Rs 401-405 is possible. Keep a stop at Rs 389 and go long. Add to the position between Rs 397-400. Book profits above Rs 401.
Tata Motors
Current price: Rs 269.5
Target price: Rs 257
The selloff could push the stock to Rs 255-257 if it continues. Keep a stop at Rs 275 and go short. Add to the position between Rs 263-266. Start booking profits below Rs 257.
Bharti Airtel
Current price: Rs 265
Target price: Rs 258
The stock could test its next support at Rs 256-258. Keep a stop at Rs 273 and go short. Add to the position between Rs 261-264. Book profits below Rs 258.
L&T
Current price: Rs 1,633
Target price: Rs 1,655
The stock is trading close to its 52-week high of Rs 1,657. It could test resistance at that level and if it is surpassed, it might run till Rs 1,680-1,700 with a three-session timeframe. Keep a stop at Rs 1,610 and go long. Add to the position between Rs 1,640-1,650. Book full or partial profits above Rs 1,655.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
