NIFTY
Current: 5,882 (fut: 5,945);
Target: NA
The futures premium should moderate to around 25-30. Use support at 5,850 (spot price) and resistance at 5,950 (spot price) as stop-losses for long and short positions, respectively. Breakouts could go till 5,775 or till 6,000. Option premiums will take another session or two to settle so option positions are best avoided.
BHEL
Current: Rs 150.75;
Target: Rs 144
Keep a stop at Rs 152 and short. Add to the position at Rs 146-148. Book profits at Rs 144.
IDEA CELLULAR
Current price: Rs 173;
Target price: Rs 180
Keep a stop at Rs 169 and go long. Add to the position between Rs 176 and Rs 178. Book profits above Rs 180.
SUN PHARMA
Current price: Rs 581;
Target price: Rs 600
New 52-week high at Rs 587. Keep a stop at Rs 575 and go long. Add to the position between Rs 587 and Rs 592. Book profits at Rs 600.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
