NIFTY
Current: 5,856 (Futures: 5,869);
Target: NA
The futures' premium is nominal with expiry two sessions away. A big session could take the index to 5,915 or 5,800. Stop-loss shorts at 5,900 and stop-loss long positions at 5,820. A strangle of long 5,800p (8) and long 5,900c (14) will double in value if either option is stuck today.
DLF
Current price: Rs 223;
Target price: Rs 228
The stock could test resistance at Rs 228-230, or it could slide back till Rs 217-218. Keep a stop at Rs 220 and go long. Add to the position between Rs 224 and Rs 226. Book profits above Rs 228.
BANK NIFTY
Current: 12,318 (Futures: 12,347);
Target: 12,525
The financial index is range-trading 12,250-12,400 with the futures at 25-30 points premium. A big session could push it till 12,215-12,550 (futures price: 12,575). Keep a stop at 12,275 (futures:12,300) and go long. Add between 12,400 and 12,450 (futures: 12,425-12,475). Book profits above 12,525 (futures: 12,550).
TATA MOTORS
Current price: Rs 307;
Target price: Rs 315
The stock recovered from a correction down to Rs 297-298. Another bullish session could push it till Rs 315-317, or higher, till Rs 320. Keep a stop at Rs 302 and go long. Add to the position between Rs 310 and Rs 312. Book profits or partial profits above Rs 315.
JINDAL STEEL & POWER
Current price: Rs 445;
Target: Rs 430
A fall till support between Rs 425 and Rs 430 is likely. Keep a stop at Rs 452 and short. Add to the position between Rs 438 and Rs 442. Book profits at Rs 430.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
