NIFTY
Current: 6,082 (futures: 6,098);
Target: NA
A new 52-week high at 6,095. The futures are at 15-20 points premium. A swing session today could move till 6,050 or 6,150. A strangle of long 6,200c (12) and long 6,000p (17) costs 29 and it could gain 10-15 if there’s a 50-point swing.
RELIANCE INDUSTRIES
Current price: Rs 920;
Target price: Rs 950
Successive 52-week highs followed by a pullback from Rs 955. Keep a stop at Rs 900 and go long with a target of Rs 950-960. Add to the position between Rs 930 and Rs 940. Book profits above Rs 950.
DLF
Current price: Rs 256;
Target price: Rs 245
The stock is correcting after a run from Rs 215 to Rs 265. It could slide till the Rs 242-245 mark. Keep a stop at Rs 262 and short. Add to the position between Rs 250-253. Book profits below Rs 245.
BANK NIFTY
Current: 12,651 (fut: 12,686);
Target: 12,900 (12,950)
The financial index seems to be consolidating above support at 12,600 levels with the futures at a premium of 35-50 points. The index could bounce back above the 12,900-12,950 level before the credit policy on January 29. Keep a stop at 12,525 and go long. Add to the position between 12,750 and 12,800. Book profits or partial profits above 12,900.
NTPC
Current price: Rs 162;
Target price: Rs 155
A slide till Rs 154-155 is possible. Keep a stop at Rs 167 and short. Add to the position between Rs 158 and Rs 160. Book profits below Rs 155.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
