NIFTY
Current: 5,588 (futures: 5,578);
Target: NA
The index closed weak. It could swing between 5,475 and 5,675 today with a likely downside bias. Stop-loss long positions at 5,535 and stop-loss shorts at 5,640. A strangle of long 5,500p (6) and long 5,700c (2) could triple in value on a big swing.
BANK NIFTY
Current: 11,066 (fut: 11,055);
Target: 10,900
The financial index could drop till 10,900, or even lower till 10,750, if support at 11,025 breaks. Keep a stop at 11,125 and short. Add to the position between 11,000 and 11,025. Book profits at 10,900 or book partial profits and rollover with a stop-loss at 11,000.
BHARTI AIRTEL
Current price: Rs 278;
Target price: Rs 268
Keep a stop at Rs 282 and short. Add to the position between Rs 270 and Rs 274. Book profits below Rs 268. If there's a bounce above Rs 282, it could go till Rs 287.
TATA MOTORS
Current price: Rs 273;
Target price: Rs 260
Keep a stop at Rs 278 and go short. Add to the position between Rs 265 and Rs 269. Book profits below Rs 260. A bounce beyond Rs 278 could go till Rs 283.
TCS
Current price: Rs 1,437;
Target price: Rs 1,500
The stock has resistance between Rs 1,450 and Rs 1,465. If it breaks out, it could run till Rs 1,500. Keep a stop at Rs 1,420 and go long. Add to the position between Rs 1,455 and Rs 1,465. Book profits above Rs 1,500. A drop below Rs 1,320 could lead to a fall till Rs 1,395.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
