NIFTY
Current: 8,684 (fut: 8,739)
Target: NA
Stop-loss long positions at 8,660. Stop-shorts at 8,820. Big moves could go till 8,575 or 8,900. Option premium are high. A long 9,000c (91), long 8,500p (104) has breakevens at 8,300, 9,200.
BANK NIFTY
Current: 18,538 (futures:18,695)
Target: 18,750 (futures: 18,900)
Keep a stop at 18,550 and go long. Add to the position between 18,850 and 18,875. Book profits at 18,900. If 18,550 is broken, the futures could fall till 18,400.
POWERGRID
Current price: Rs 153
Target price: Rs 157
Keep a stop at Rs 151 and go long. Add to the position between Rs 155 and Rs 156. Book profits at Rs 157.
HINDALCO
Current price: Rs 150
Target price: Rs 147
Keep a stop at 1Rs 52 and go short. Add to the position between Rs 148 and Rs 149. Book profits at Rs 147.
BHEL
Current price: Rs 264
Target price: Rs 272
Keep a stop at Rs 261 and go long. Add to the position between Rs 269 and Rs 270. Book profits at Rs 272.
Target prices, projected movements in terms of next session, unless otherwise stated
