NIFTY
Current: 6,317 (futures: 6,350)
Target: NA
The index should hit a new high. Stop-loss shorts at 6,400 and stop-loss long posit-ions at 6,275. Breakouts could go till 6,450 or 6,250. A bull-spread of long 6,500c (49) and short 6,600c (25) costs 24. It could gain 15-20 if the 6,425 mark is crossed. (All futures prices).
BANK NIFTY
Current: 11,614 (futures: 11,668)
Target: 11,875 (futures price)
Keep a stop at 11,625 and go long. Add to the position between 11,800 and 11,825. Book profits above 11,875. If it drops below 11,575, consider going short with a target of 11,400. (All futures prices).
IDFC
Current: Rs 112.60;
Target: Rs 117
Keep a stop at Rs 110.5 and go long. Add to the position between Rs 115 and Rs 116. Book profits above Rs 117.
MAHINDRA & MAHINDRA
Current: Rs 926;
Target: Rs 950
Keep a stop at Rs 915 and go long. Add to the position between Rs 930 and Rs 935. Book profits above Rs 950.
CAIRN INDIA
Current price: Rs 321.95
Target price: Rs 335
Keep a stop at Rs 315 and go long. Add to the position between Rs 325 and Rs 328. Book profits above Rs 335.
The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated
