NIFTY
Current: 5,685 (futures: 5,720);
Target: NA
Choppy trading. Assume futures premium will be about 35. Stop-loss short positions at 5,775 (futures price) and stop loss long positions at 5,680. Breakouts could go till 5,625 or 5,825. A long 5,700p (108) and short 5,600p (71) is still worth holding.
BANK NIFTY
Current: 10,094 (futures: 10,171);
Target: 9,900 (futures: 9,950)
The financial index rebounded from 9,820 (fut: 9,870), which is almost on the 52-week low of 9,814. Futures premium should reduce to 50-60. Keep a stop at 10,225 (futures price) and short. Add to the position between 10,075-10,025. Book profits, or partial profits at 9,950.
BHEL
Current price: Rs 120.8;
Target price: Rs 128
Keep a stop at Rs 117 and go long. Add to position at Rs 122-124. Book profits at Rs 128. If Rs 117 is broken, short with a stop at Rs 122 and an initial target of Rs 112.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
