NIFTY
Current: 6,113 (futures: 6,147)
Target: NA
Stop-loss shorts at 6,175. Stop-loss long positions at 6,100. Breakouts could go till 6,025 or 6,250. A strangle of long 6,300c (44) and long 6,000p (60) costs 104. It could gain 15-20 on a move of 75 points in either direction.
BANK NIFTY
Current: 10,665 (futures: 10,715)
Target: 10,850 (futures: 10,900)
Keep a stop at 10,675 and go long. Add to the position between 10,800 and 10,825. Book profits above 10,900. If 10,675 is broken, the index could slide till 10,550. (All futures prices)
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
