NIFTY
Current: 5,904 (futures: 5,915);
Target: NA
Resistance at 5,920-5,930 can be a stop loss for short trades. Support at 5,850-5,865 should be the stop loss. Assume futures premium of 15-20. Breakouts could go till 5,800 or 5,975. A strangle of long 5,700p (27) and long 6,100c (25) could gain 15-20 if the index moves 75 points in either direction.
INDUSIND BANK
Current price: Rs 478;
Target price: Rs 495
A new 52-week high at Rs 484-485. Keep a stop at Rs 472 and go long. Add to the position between Rs 484-488. Book profit above Rs 495 or book partial profits and hold for a target of Rs 510 with a stop loss at Rs 485.
HIND UNILEVER
Current price: Rs 497;
Target price: Rs 515
RELIANCE INFRA
Current price: Rs 382;
Target price: Rs 398
Resistance at Rs 388-390. If that breaks, the stock could run till Rs 415. Keep a stop at Rs 373 and go long. Add to the position between Rs 390-393. Book partial profits at Rs 398 and hold the rest for a target of Rs 415 with a new stop loss at Rs 392.
NMDC
Current price: Rs 123.5;
Target price: Rs 118
If support at Rs 121-122 breaks, the stock could drop to Rs 117-118. Keep a stop at Rs 126 and short. Add to the position between Rs 120.5-121.5. Book profits below Rs 118.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
