NIFTY
Current: 5,888 (fut: 5,925);
Target: NA
The futures is trading at 30-40 points premium. Short-term trend is slightly bearish. A swing could take the index till 5,820 (fut: 5,850) or 5,950 (fut: 5,980). A strangle of long 6,100c (11) and long 5,700p (9) could double in value on a big move.
BHEL
Current: Rs 232.5;
Target: Rs 220
A test of support between Rs 215 and Rs 220 is likely. Keep a stop at Rs 240 and short. Add to the position between Rs 225 and Rs 230. Book profits below Rs 220.
RELIANCE INFRA
Current: Rs 526;
Target: Rs 550
If the stock clears resistance at Rs 530, it could run till Rs 550-555. Keep a stop at Rs 515 and go long. Add to the position between Rs 531 and Rs 535. Book profits above Rs 550.
BANK NIFTY
Current: 12,302 (fut: 12,385);
Target: 12,175
The financial index could slide till 12,150-12,175 (fut: 12,250) or bounce till 12,425-12,450 (fut: 12,500). Keep a stop at 12,375 (fut: 12,450) and short. Add to the position between 12,225 and 12,250 (fut: 12,300-12,325). Book profits at 12,175 (fut:12,250).
HERO MOTOCORP
Current: Rs 1,900;
Target: Rs 1,970
The stock may test resistance at Rs 1,915-1,925. If it moves past Rs 1,925, it could run till Rs 1,970-1,990. Keep a stop at Rs 1,880 and go long. Add to the position between Rs 1,920 and Rs 1,930. Book profits above Rs 1,970. If Rs 1,880 is broken, a fall till Rs 1,850 is possible.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
