Current: 5,745 (futures: 5,753)
The index has a bearish trend. If support breaks at current levels, it could drop till 5,670. Upside resistance at 5,790-5,810. Stop-loss shorts at 5,790. Stop-loss long positions at 5,710. A bearspread of long 5,700p (42) and short 5,600p (18) could gain 15-20 if the index strikes 5,700.
Current: 11,508 (futures: 11,536)
The financial index is likely to test
support at 11,450 and if that is broken, it could fall till 11,300-11,350 or even lower if an intermediate downtrend develops. Keep a stop at 11,625 and short. Add to the position between 11,400 and 11,430. Book profits or partial profits at 11,350. BHARTI AIRTEL Current price:
Rs 293 Target price:
The stock hit a three-month low at Rs 284 before recovering a little. It could test Rs 284 again and if that breaks, it may fall till Rs 273-275. Keep a stop at Rs 302 and short. Add to the position between Rs 288 and Rs 291. Book partial profits at Rs 284 and hold the rest with a target of Rs 275 and a new stop-loss at Rs 288. BHEL Current price:
Rs 186 Target price:
A new 52-week low at Rs 185. The stock could slide lower with an initial target of Rs 173-175 in the next three sessions. On the upside, it could bounce till Rs 195. Keep a stop at Rs 190 and short. Add to the position between Rs 181 and Rs 184. Book profits below Rs 176. GAIL Current price:
Rs 323, Target price:
The stock could test resistance at Rs 335-341. Keep a stop at Rs 314 and go long. Add to the position between Rs 326 and Rs 329. Book profits above Rs 335.