NIFTY
Current: 5,921 (futures: 5,933);
Target: NA
Another session of range trading. Stop-loss long positions near support at 5,875 and stop-loss short positions near 5,965. Breakouts could go till 5,825 or 6,025. A bearspread of long 5,900p (81) and short 5,800p (46) still looks attractive.
BANK NIFTY
Current: 12,398 (fut: 12,400);
Target: 12,600
The financial index bounced from key support between 12,185 and 12,200. It could run up till the 12,625 level or fall back again to test that 12,200 support. Keep a stop at 12,300 and go long. Add to the position between 12,450 and 12,475. Book profits above 12,600. Consider going short if 12,300 is broken.
HCL TECH
Current price: Rs 748;
Target price: Rs 780
The stock bounced from support at Rs 721. If it beats Rs 755, it could run till Rs 780-785. Keep a stop at Rs 735 and go long. Add to the position between Rs 755 and Rs 760. Book profits above Rs 780.
BHARTI AIRTEL
Current price: Rs 295;
Target price: Rs 283
The stock hit a one-month low. If the trend persists, it could fall till Rs 280-283. Keep a stop at Rs 301 and go short. Add to the position between Rs 288 and Rs 291. Book profits below Rs 283.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
