NIFTY
Current: 5,859 (futures: 5,863)
Target: NA
Tightly ranged trading without a clear trend. Use 5,825 as a stop loss for long futures and use 5,875 as a stop for shorts. Breakouts or breakdowns could go till 5,775 or 5,925. A strangle of long 5,600p (24) and long 6,000c (15) could gain 10-15 on a big swing.
COAL INDIA
Current: Rs 291.5;
Target: Rs 276
Coal India is testing support at Rs 284-285. if it drops below Rs 284, it could slide till Rs 275-276. Keep a stop at Rs 297 and short with a 3-session timeframe. Add to the position between Rs 281-284. Book profits at Rs 276.
POWER GRID
Current: Rs 109.85;
Target: Rs 114
Keep a stop at Rs 108 and go long. Add to the position between Rs 111-112.5. Book profits at Rs 114. A fall below Rs 108 might mean a correction till Rs 105.5
INFOSYS
Current: Rs 2,498;
Target: Rs 2,575
Run-up to results on Friday. The stock may move till Rs 2,575-2,600 prior to results if it clears resistance at Rs 2,515-2,530. Keep a stop at Rs 2,480 and go long. Add to the position between Rs 2,520-2,530. Book profits or partial profits above Rs 2,575.
STATE BANK OF INDIA
Current: Rs 1,895;
Target: Rs 1,850
Keep a stop at Rs 1,910 and short. Add to the position between Rs 1,865-1,880. Book profits below Rs 1,850. A bounce above Rs 1,920 could go till Rs 1,950.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
