NIFTY
Current: 5,897 (futures: 5,931)
Target: NA
The futures is at 30-40 points premium. The index tested key support at 5,820 yesterday. It could swing between 5,850 (futures 5,880) and 5,950 (futures 5,980) with a bullish perspective. Stop-loss shorts at 5,925 (futures 5,960) and stop-loss long positions at 5,865 (futures 5,900). A long 6,000c (22) and short 6,100c (6) could gain 10-15 if 5,950 (futures 5,980) is struck.
BANK NIFTY
Current: 12,477 (futures: 12,550)
Target: 12,650 (futures: 12,725)
The index bounced from support at 12,200 discounting the credit policy. The futures is at 70-80 points premium. Keep a stop at 12,375 (futures 12,450) and go long. Add to the position between 12,525 and 12,550 (futures 12,600-12,625). Book profits above 12,725.
TATA STEEL
Current price: Rs 414
Target price: Rs 425
The uptrend in the stock may have got stronger, as it saw huge volumes. The next target could be Rs 425-430. Keep a stop at Rs 406 and go long. Add to the position between Rs 417 and Rs 420. Book profits above Rs 425.
BHEL
Current price: Rs 230
Target price: Rs 240
The stock moved up from support at Rs 220-221. It could run till Rs 240-245. Keep a stop at Rs 225 and go long. Add to the position between Rs 233 and Rs 237. Book profits above Rs 240.
SUN PHARMA
Current price: Rs 737
Target price: Rs 750
New high for the stock on volume expansion. The immediate target could be could be Rs 750-755. Keep a stop at Rs 730 and go long. Add to the position between Rs 740 and Rs 745. Book profits above Rs 750.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
