NIFTY
Current: 5,909 (futures: 5,937)
Target: NA
A swing session could take the index till either 5,850 (fut: 5,875) or 5,965 (fut 6,000). The futures will probably stay at 25-40 points premium. Stop loss long positions at 5,870 (fut:5,900) and stop loss shorts at 5,935 (fut 5,965). A bullspread of long 6,000c (40) and short 6,100c (16) could double if the index moves up 50 points.
HDFC
Current price: Rs 866
Target price: Rs 890
The stock hit a new high on decent volumes. It could move till the Rs 890-900 mark if it consolidates above Rs 865. Keep a stop at Rs 855 and go long. Add to the position between Rs 873-800. Book profits above Rs 890. If Rs 855 is broken, a fall till Rs 835-840 is likely.
TATA STEEL
Current price: Rs 400
Target price: Rs 390
The stock could react till the Rs 385-390 level. Keep a stop at Rs 405 and go short. Add to the position between Rs 394-398. Book profits below Rs 390.
CAIRN
Current price: Rs 327
Target price: Rs 318
A slide till Rs 315-318 is possible. Keep a stop at Rs 332 and go short. Add to the position between Rs 321-324. Book profits below Rs 318.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
