NIFTY
Current: 6,045 (futures:6,066);
Target: NA
The trend remained slightly bearish. Use 6,150 as a stop for short positions. Use 6,000 as a stop for long positions. Breakouts could go till 6,200 or 5,900. A bearspread of long 6,000p (64) and short 5,900p (37) costs 27 and it could double if the index falls below 6,000. (All futures prices)
BHARTI AIRTEL
Current: Rs 348.65;
Target: Rs 358
Keep a stop at Rs 343 and go long. Add to the position between Rs 350 and Rs 353. Book profits above Rs 358.
ONGC
Current: Rs 281;
Target: Rs 291
Keep a stop at Rs 276 and go long. Add to the position between Rs 285 and Rs 288. Book profits above Rs 291.
HCL TECH
Current: Rs 1,083;
Target: Rs 1,045
A sharp correction. Keep a stop at Rs 1,100 and short. Add to the position between Rs 1,055 and Rs 1,070. Book profits below Rs 1,045.
INDUSIND BANK
Current: Rs 389;
Target: Rs 376
Keep a stop at Rs 395 and short. Add to the position between Rs 380 and Rs 385. Book profits below Rs 376.
The target prices and projected movements are in terms of the next trading session, unless otherwise stated
