Nifty
Current: 5,684 (fut: 5,715)
Target: NA
The index could swing between 5,625 and 5,745 with the futures at 30 points premium to underlying. Stop loss shorts at 5,725 (futures price: 5,760) and stop loss long positions at 5,650 (futures: 5,675). A long strangle of long 5,600p (20 and long 5800c (26) costs 46 and it could gain 15-20 on a big move.
Bank Nifty
Current price: 11,584 (fut: 11,661)
Target price: 11,450 (fut:11,525)
The financial index is hitting resistance at current levels and the futures is trading at 80 points premium. A fall till 11,375-11,425 (futures price 11,450-11,525) is likely. Keep a stop at 11,650 (fut:11,725) and short. Add to the position between 11,475-11,525 (fut:11,550-11,600). Book profits below 11,450.
Reliance Industries
Current price: Rs 787
Target price: Rs 760
The stock has a bearish pattern. It could fall till Rs 755-760 if it breaks support at Rs 775-785. Keep a stop at Rs 805 and short with a three-session timeframe. Add to the position between Rs 770 and Rs 780. Book profits below Rs 760.
DLF
Current price: Rs 205.5
Target price: Rs 201
The stock saw selling that could push it down till Rs 198-201. Keep a stop at Rs 208.5 and short. Add to the position at Rs 203-204. Book profits below Rs 201.
Note: Since Diwali trading is token, the timeframes considered for the following trades is November 15, or beyond, if so specified
