NIFTY
Current: 5,890 (futures: 5,912); R
Target: NA
Use support at 5,875 (futures price) as the stop-loss for long positions. Use resistance at 5,980 as a stop loss for shorts. Breakouts could go till 5,800 or 6,025. The trend seems bearish. A long 5,800p (24) and short 5,700p (9) costs 15 and it would double if the index drops below 5,850.
BANK NIFTY
Current price: 10,212 (fut: 10,235);
Target price: 10,025
Keep a stop at 10,325 (futures price) and short. Add to the position between 10,150 and 10,200. Book profits below 10,025. A bounce beyond 10,325 could go till 10,400.
IDFC
Current price: Rs 93.3;
Target price: Rs 88
Keep a stop at Rs 96 and short. Add to the position between Rs 90.5 and Rs 92. Book profits below Rs 88.
HCL TECH
Current price: Rs 1,091;
Target price: Rs 1,025
New high at Rs 1,099 followed by some selling. Keep a stop at Rs 1,075 and go long. Add to the position between Rs 1,100 and Rs 1,110. Book profits above Rs 1,025.
ONGC
Current price: Rs 275;
Target price: Rs 268
Keep a stop at Rs 281 and short. Add to the position between Rs 272 and Rs 274. Book profits below Rs 268.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
