Current: 6,010 (futures: 6,038)
The index looks bullish. Futures are at premium of 30-40 points. Reaction will find support at 5,965-5,975 (futures: 6,000). The next upmove could be till 6,075. Stop-loss shorts at 6,040 (futures: 6,075) and stop-loss long positions at 5,960 (futures: 5,990). Hold a bullspread of long 6,100c (52) and short 6,200c (23), which could double in value if 6,100 is struck.
Current price: Rs 861
Target price: Rs 878
RIL could test resistance near the 52-week high of Rs 881. Keep a stop at Rs 852 and go long. Add to the position between Rs 863 and Rs 868. Book profits or partial profits above Rs 878.
STATE BANK OF INDIA
Current price: Rs 2,471
Target price: Rs 2,535
Breakout to new high on good volumes, followed by a correction. Keep a stop at Rs 2,450 and go long. Add to the position between Rs 2,480 and Rs 2,490. Difficult to set a target but Rs 2,535-2,550 should be achievable in three sessions.