NIFTY
Current: 5,837 (futures: 5,845)
Target: NA
Partial recovery yesterday. The index could swing between 5,925 and 5,750 on Friday. Use 5,890 as a stop loss for short positions and use 5,790 as a stop loss for long positions. Maybe worth holding a bearspread of long 5,700p (49) and short 5,600p (29) until and unless the index crosses 5,950.
RELIANCE CAPITAL
Current: Rs 359.35;
Target: Rs 369
The stock is oscillating between Rs 340 and Rs 370 but it may break out. Keep a stop at Rs 352 and go long. Add to the position between Rs 363 and Rs 365. Book partial profits at Rs 369 and hold the rest with a stop loss of Rs 364 and a new target of Rs 380.
HCL TECH
Current: Rs 799;
Target: Rs 825
The stock could test its 52-week high at Rs 810 and if that breaks, it may move till Rs 825. Keep a stop at Rs 790 and go long. Add to the position between Rs 811 and Rs 815. Book profits above Rs 825.
YES BANK
Current: Rs 470;
Target: Rs 490
Keep a stop at Rs 460 and go long. Add to the position between Rs 477 and Rs 483. Book profits at Rs 490.
TATA MOTORS
Current: Rs 292;
Target: Rs 277
Keep a stop at Rs 297 and short. Add to the position between Rs 285 and Rs 288. Book profits at Rs 277. If Rs 297 is broken, the stock could cross Rs 310.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
