NIFTY
Current: 5,935 (fut: 5,938);
Target: NA
A big bounce yesterday. Use 5,890 and 5,975 as stop losses for long and short positions, respectively. Breakouts could go till 5,625 or 5,825. A bullspread of long 6,000c (52) and short 6,100c (22) could double if 5,600 is struck.
BHARTI AIRTEL
Current price: Rs 300;
Target price: Rs 308
Keep a stop at Rs 296 and go long. Add to the position between Rs 302 and Rs 305. Book profits above Rs 308.
ITC
Current price: Rs 353.5;
Target price: Rs 360
Keep a stop at Rs 350 and go long. Add to the position at Rs 356-358. Book profits at Rs 360. A fall below Rs 350 could mean a drop till Rs 345.
INFOSYS
Current price: Rs 2,528;
Target price: NA
The stock could swing between Rs 2,300 and Rs 2,800 today. The last few quarters have seen a crash on results. A strangle of long 2,300p (88) and long 2,800c (77) could gain on a big move. Otherwise, if the stock opens below Rs 2525 go short with a stop-loss at Rs 2,600. Or else, if it opens above Rs 2,550, go long with a stop-loss at Rs 2,475.
INDUSIND BANK
Current price: Rs 510.7;
Target price: Rs 530
Keep a stop at Rs 500 and go long. Add to the position at Rs 515-520. Book profits at Rs 530.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
