NIFTY
Current: 5,914 (fut: 5,930.5)
Target: NA
Support at 5,890 held. Resistance at 5,945 also held. Futures premium between 15 and 20. Breakouts today could go till 5,975 or 5,850. Stop-loss shorts at 5,950 and stop-loss long positions at 5,875. A bearspread of long 5,800p (32) and short 5,700p (18) could gain 15-20 if the index drops 50 points.
YES BANK
Current price: Rs 492;
Target price: Rs 480
The trend may have reversed in mid-session yesterday and turned negative. The stock could fall till the Rs 475-480 levels. Keep a stop at Rs 498 and short. Add to the position between Rs 474 and Rs 488. Book profits below Rs 480.
DLF
Current price: Rs 283.5;
Target price: Rs 288
New 52-high at Rs 289.5 followed by profit booking. A move back till Rs 288-290 is possible. Keep a stop at Rs 281 and go long. Add to the position between Rs 285 and Rs 287. Book profits above Rs 288.
BHEL
Current price: Rs 200;
Target price: Rs 190
The stock could test support at its three-month low of Rs 198-199. If it drops below this level, it is likely to break its 52-week low of Rs 195. Keep a stop at Rs 206 and go short. Add to the position between Rs 197 and Rs 198 and book profits below Rs 190.
LARSEN & TOUBRO
Current price: Rs 1,501;
Target price: Rs 1,465
Serious resistance between Rs 1,520 and Rs 1,530 caused a trend reversal. The stock could fall till the Rs 1,455-1,465 levels if the reversal continues. Keep a stop at Rs 1,520 and short. Add to the position between Rs 1,480 and Rs 1,490. Book profits below Rs 1,465. If Rs 1,520 is broken, the upside could be Rs 1,545.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
