NIFTY
Current: 5,590 (futures: 5,600)
Target: NA
The downtrend continues. Today's session limits could be 5,500 or 5,675. A big breakout, or a continuing breakdown could go till 5,700 or 5,490. Stop-loss long positions at 5,550 and stop-loss shorts at 5,650. A long 5,500p (17) and a long 5,700 (12) is expensive. It could double on a big move.
BANK NIFTY
Current: 11,178 (futures: 11,200)
Target: 11,000
The downtrend continues - assume a futures premium 15-20. Keep a stop at 11,275 and go short. Add to the position between 11,100 and 11,125. Book profits at 11,000. A bounce above 11,275 could go till 11,350.
JP ASSOCIATES
Current price: Rs 51;
Target price: Rs 46
New 52-week low between Rs 50 and Rs 51. Keep a stop at Rs 54 and short. Add to the position between Rs 49 and Rs 50. Book profits below Rs 46. If Rs 54 is broken, the stock could bounce till Rs 56.50.
DLF
Current price: Rs 164;
Target price: Rs 172
New 52-week low at Rs 161-162. The stock could bounce till Rs 173. Keep a stop at Rs 161 and go long. Add to the position between Rs 166 and Rs 167. Book profits above Rs 172. If Rs 161 is broken, the next target is Rs 155.
PFC
Current price: Rs 137.85;
Target price: Rs 132
New 52-week low at Rs 135-136. Keep a stop at Rs 140 and go short. Add to the position between Rs 133.5 and Rs 135. Book profits below Rs 132. If Rs 140 is broken, the stock could bounce till Rs 145.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
