Nifty
Current: 5,930 (Futures: 5,923);
Target: NA
The index could open high due to Singapore Nifty futures closing at about 60 points premium. Use support at 5,875, and resistance at 6,000 for stop-losses on futures' positions with potential moves till either 5,825 or 6,025. A bullspread of long 6,000c (57) and short 6,100c (27) could gain 20-25 if the index hits 6,000.
M&M
Current price: Rs 924
Target price: Rs 950
The stock could run till Rs 950-plus if it clears resistance at Rs 930. Keep a stop at Rs 905 and go long. Add to the position between Rs 930 and Rs 940. Book profits or partial profits at Rs 950 and hold the rest with a new stop-loss at Rs 935.
HCL Tech
Current price: Rs 721;
Target price: Rs 740
The stock could run till Rs 740-750 before hitting serious resistance. Keep a stop at Rs 705 and go long. Add between Rs 725 and Rs 735. Book profits above Rs 740.
Idea Cellular
Current price: Rs 133;
Target price: Rs 140
Breakout to new high at Rs 133-134 on good volumes. Keep a stop at Rs 128 and go long. Add between Rs 135 and Rs 137. Book profits or partial profits above Rs 140.
HDFC
Current price: Rs 844;
Target price: Rs 864
The stock could bounce from support at Rs 840. Keep a stop at Rs 834 and go long. Add to the position between Rs 850 and Rs 860. Book profits at Rs 865 or book partial profits and hold with a new stop-loss of Rs 850 and a target of Rs 880.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
