NIFTY
Current: 5,905.6 (Futures: 5,915);
Target: NA
A big session could go till 5,850 or 5,965, but the index is likely to range-trade with a bullish bias till the last hour. Stop loss shorts at 5,950 and stop loss long positions at 5,875. A straddle of long Dec 5,900c (26) and long Dec 5,900p (11) breaks even at 5,863, 5,937.
L&T
Current price: Rs 1,622;
Target price: Rs 1,645
The stock jumped on short covering. It has the potential to run till the Rs 1,645-1,655 levels. Keep a stop at Rs 1605 and go long. Add to the position between Rs 1625-1635. Book profits above Rs 1,645. A drop below Rs 1,605 could go till Rs 1,575.
BANK NIFTY
Current: 12,479 (Futures: 12,519);
Target: 12,625
The December futures is still at 40 points premium over underlying. This indicates bullish trading sentiment. The Bank Nifty could move till 12,625-12,650 with the premium narrowing. Keep a stop at 12,425 (fut: 12,450) and go long. Add to the position between 12,550 and 12,575. Book profits above 12,625.
HIND UNILEVER
Current price: Rs 523;
The stock could test support in the Rs 510-513 range. Keep a stop at Rs 529 and go short. Add to the position between Rs 515-520. Book profits below Rs 513. A bounce above Rs 530 could go till Rs 540.
SUN PHARMA
Current price: Rs 754;
Target Rs 770
The stock hit a 52-week high four sessions ago at Rs 776, and reacted down to Rs 730 before moving up again. If the trend is still valid, it could hit or surpass Rs 775-780. Keep a stop at Rs 745 and go long. Add to the position between Rs 755-760. Book profits above Rs 770.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
