NIFTY
Current: 6,253 (futures: 6,297);
Target: NA
A bout of profit booking. The index has resistance at 6,365 and support at 6,275. Breakouts could go till 6,175 or 6,400. A bearspread of long 6,200p (74) and short 6,100p (48) costs 26. It could gain 10-15 if the index drops below 6,200. (All futures prices above)
BANK NIFTY
Current: 11,499; (futures: 11,565)
Target: 11,400 (futures price)
Keep a stop at 11,625 and short. Add to the position between 11,450 and 11,475. Book profits below 11,400. (All futures prices).
ITC
Current: Rs 319;
Target:Rs 305
Keep a stop at Rs 325 and go short. Add to the position between Rs 312 and Rs 315. Book profits below Rs 305.
TATA MOTORS
Current: Rs 395.3;
Target: Rs 410
Keep a stop at Rs 392 and go long. Add to the position between Rs 399 and Rs 402. Book profits at Rs 410.
DLF
Current: Rs 160.8;
Target: Rs 167
Keep a stop at Rs 158 and go long. Add to the position between Rs 164 and Rs 166. Book profits above Rs 167.
Target prices, projected movements in terms of next session, unless otherwise stated
