NIFTY
Current: 5,780 (futures: 5,833)
Target: NA
The futures premium should reduce to 25-35. Stop-loss shorts at 5,900 (futures price) and stop-loss long positions at 5,750 (futures price). Breakouts may be till 5,950 or 5,675. Options are expensive but a wide strangle of long 5,500p (59) and long 6,100c (51) could gain 30-35 if there's a big move.
BANK NIFTY
Current: 9,883 (futures: 9,982)
Target: 9,675 (futures: 9,700)
The futures premium should reduce to about 55-60. Keep a stop at 10,050 (futures price) and short. Add to the position between 9,875 and 9,925. Book profits below 9,700.
DLF
Current price: Rs 136.9
Target price: Rs 131
Keep a stop at Rs 140 and short. Add to the position between Rs 133 and Rs 135. Book profits below Rs 131.
ONGC
Current price: Rs 262
Target price: Rs 270
Keep a stop at Rs 260 and go long. Add to the position between Rs 264 and Rs 267. Book profits at Rs 270. If Rs 260 is broken, a fall till Rs 249-250 is likely.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
