NIFTY
Current: 8,335 (fut: 8,339)
Target: NA
Stop-long positions at 8,280. Stop-short positions at 8,420. A long May 8,400c (8) could pay off handsomely if short covering drives the index to test resistance at 8,450.
BANK NIFTY
Current: 18,539 (futures: 18,525)
Target: 18,700 (futures: 18,700)
Keep a stop at 18,450 and go long. Add to the position between 18,650 and 18,675. Book profits at 18,700.
BHEL
Current price: Rs 250
Target price: Rs 244
Keep a stop at Rs 254 and short. Add to the position between Rs 246 and Rs 247. Book profits at Rs 244.
TATA MOTORS
Current price: Rs 472
Target price: Rs 480
Keep a stop at Rs 466 and go long. Add to the position between Rs 478 and Rs 479. Book profits at Rs 480.
IDEA CELLULAR
Current price: Rs 170
Target price: Rs 174
Keep a stop at Rs 168 and go long. Add to the position between Rs 172 and Rs 173. Book profits at Rs 174.
Target prices, projected movements in terms of next session, unless otherwise stated
