NIFTY
Current: 5,837 (futures: 5841);
Target: NA
Strong recovery from support at 5,790-5,800. The index could move between 5,775-5,875 in settlement with possible breakouts till 5,730 or 5,900. There is a bullish bias. Stop loss shorts at 5,855 and stop loss long positions at 5,775.
DLF
Current price: Rs 247
Target price: Rs 240
A pullback till Rs 238-240 is possible. Keep a stop at Rs 251 and go short. Add to the position between Rs 242 and Rs 245. Book profits below Rs 240.
CAIRN INDIA
Current price: Rs 289
Target price: Rs 280
If support at Rs 285 breaks, it could drop till Rs 279-280. Keep a stop at Rs 293 and short. Add to the position between Rs 282 and Rs 285. Book profits at Rs 280.
RELIANCE INDUSTRIES
Current price: Rs 804
Target price: Rs 825
The stock could run till Rs 825-830. Keep a stop at Rs 795 and go long. Add to the position between Rs 810 and Rs 820. Book profits above Rs 825.
BANK NIFTY
Current: 12,543
Target: 12,750
The financial index bounced from support at 12,350. Resistance between 12,625-12,650 is visible. High carryover on Thursday could take the financial index till 12,750-12,775. Keep a stop at 12,450 and go long., Add to the position between 12,650-12,700. Book profits beyond 12,750.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
