NIFTY
Current: 5,906 (fut: 5,944);
Target: NA
Range trading continues. Stop-loss shorts at 5,950 and stop loss long positions at 5,850. Breakouts could go till 5,775 or 6,025. A bullspread of long 6,100c (82) and short 6,200c (50) costs 32 and it could gain 15-20 on a breakout beyond 6,000.
AXIS BANK
Current price: Rs 1,072;
Target: Rs 1,045
Keep a stop at Rs 1,085 and short. Add to the position between Rs 1,055 and Rs 1,065. Book profits at Rs 1,045.
COAL INDIA
Current price: Rs 299.75;
Target price: Rs 290
Keep a stop at Rs 305 and short. Add to the position between Rs 295 and Rs 298. Book profits below Rs 290.
TCS
Current price: Rs 2,089.75;
Target price: Rs 2,135
New 52-week high at Rs 2,097.7. Keep a stop loss at Rs 2,070 and go long. Add to the position at Rs 2,100-2,120. Book profits above Rs 2,135.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
