NIFTY
Current: 5,922 (futures: 5,942);
Target: NA
Support held at 5,875-5,885. Next resistance is 5,945-5,955. Futures premium ranging between 15-25. A swing session could see the Nifty hit 5,860 or 5,975. Stop-loss shorts at 5,950 and stop-loss long positions at 5,875. A bullspread of long 6,000c (42) and short 6,100c (16) could gain 15-20 if index rises 50 points.
ONGC
Current price: Rs 320;
Target price: Rs 329
The stock bounced from support at Rs 307-310. it could move till Rs 324-325 and if it overcomes resistance there, it may climb till Rs 329-30. Keep a stop at Rs 315 and go long. Add to the position between Rs 323 and Rs 325. Book profits at Rs 329.
TATA MOTORS
Current price: Rs 298.5;
Target price: Rs 305
The stock could climb to Rs 305-307 if support at Rs 296 holds. Keep a stop at Rs 295 and go long. Add to the position between Rs 299 and Rs 302. Book profits above Rs 305. If Rs 295 is broken, a slide till Rs 290-291 is likely.
YES BANK
Current price: Rs 522;
Target price: Rs 535
The stock could climb till Rs 535-540. Keep a stop at Rs 514 and go long. Add to the position between Rs 523 and Rs 528. Book profits above Rs 535.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
