NIFTY
Current: 8,660 (fut: 8,729)
Target: NA
Stop-shorts at 8,800. Stop-long positions at 8,650. The futures premium is excessive and may tighten to about 45-50 over spot Nifty. A long 8,600p (65), short 8,500p (45) costs 20, and it could rise by 15-20 if support at 8,600 is tested.
BANK NIFTY
Current: 18,469 (futures: 18,612)
Target: 18,300 (futures: 18,400)
Keep a stop at 18,725 and short. Add to the position between 18,425 and 18,450. Book profits at 18,400.
DR REDDY'S LAB
Current price: Rs 3,685
Target price: Rs 3,730
Keep a stop at Rs 3,650 and go long. Add to the position between Rs 3,705 and Rs 3,715. Book profits at Rs 3,730.
IDFC
Current price: Rs 171.5
Target price: Rs 168
Keep a stop at Rs 173.25 and go short. Add to the position between Rs 169 and Rs 170. Book profits at Rs 168.
BAJAJ AUTO
Current price: Rs 2,095
Target price: Rs 2,060
Keep a stop at Rs 2,110 and short. Add to the position between Rs 2,065 and Rs 2,070. Book profits at Rs 2,060.
Target prices, projected movements in terms of next session, unless otherwise stated
