NIFTY
Current: 6,055 (futures: 6,060)
Target: NA
A swing session could see 6,000, or 6,100 hit. February futures’ premium suggests range trading between 6,040 and 6,090 is most likely. Stop-loss shorts at 6,080 and stop-loss long positions at 6,020. A strangle of long January 6,100c (6) and long January 6,000p (4.5) has breakevens at 5,090 and 6,110, which are the likely outside limits of expectation.
ICICI BANK
Current price: Rs 1,213
Target price: Rs 1,240
The stock is testing resistance at Rs 1,228 and if it establishes a new 52-week high above that, it may move till Rs 1,240-1,250. Keep a stop at Rs 1,200 and go long. Add to the position between Rs 1,222 and Rs 1,230. Book profits above Rs 1,240.
RELIANCE INDUSTRIES
Current price: Rs 899
Target price: Rs 915
Support between Rs 885 and Rs 895. Potential upside till Rs 920-930 with resistance at Rs 905-915. Keep a stop at Rs 890 and go long. Add between Rs 903 and Rs 910. Book profits at Rs 915.
BHEL
Current : Rs 222;
Target: Rs 216
The stock could slide till Rs 214-216, or bounce till Rs 229-231. Keep a stop at Rs 225 and short. Add to the position between Rs 219 and Rs 220. Book profits below Rs 216.
SESA GOA
Current: Rs 187;
Target: Rs 192
The stock could move till Rs 192-194. Keep a stop at Rs 183 and go long. Add to the position at Rs 188-189. Book profits above Rs 192.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
