NIFTY
Current: 6,123 (futures: 6,133);
Target: NA
The trend may have reversed. Stop-loss long positions at 6,075 and stop loss shorts at 6,200. Breakouts could go till 6,225 or 6,025 with a likely bearish bias. A bearspread of long 6,100p (48) and short 6,000p (22) costs 26 and it could double if the 6,075 level is hit. (All futures prices).
BANK NIFTY
Current: 10,966 (fut: 10,967);
Target price: 10,750
Keep a stop at 11,025 and short, Add to the position between 10,875 and 10,900. Book profits below 10,750.
BPCL
Current price: Rs 335.5;
Target price: Rs 325
Keep a stop at Rs 342 and short. Add to the position between Rs 329 and Rs 332. Book profits below Rs 325.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
