NIFTY
Current: 7,362 (futures: 7,371)
Stop shorts at 7,420, long at 7,295. Big moves could go to 7,475 or 7,250. A bullspread of long 7,400c (100) and short 7,500c (60) costs 40 and could gain 15-20 if market hits 7,425. (Futures prices above)
BANK NIFTY
Current: 15,287 (futures: 15,256)
Target: 15,425 (futures: 15,400)
The backwardation is bearish. Other signals are bullish. Keep a stop at 15,175, go long. Add to the position between 15,325 & 15,350. Book profits above 15,400.
LARSEN & TOUBRO
Current: Rs 1,646
Target: Rs 1,690
Keep a stop at Rs 1,610 and go long. Add to the position between Rs 1,660 and Rs 1,675. Book profits above Rs 1,690.
BHARTI AIRTEL
Current: Rs 362
Target: Rs 353
Keep a stop at Rs 366 and go short. Add to the position between Rs 355 and Rs 357. Book profits at Rs 353.
ITC
Current: Rs 337
Target: Rs 330
Keep a stop at Rs 340 and go short. Add to the position between Rs 331 and Rs 334. Book profits at Rs 330.
Target prices, projected movements in terms of next session, unless otherwise stated
