Current: 5,724 (futures: 5,772);
A swing session may take the underlying till 5,825 or 5,625 with the futures traded at 30-50 points premium. Stop loss shorts at 5,800 (futures price) and stop loss long positions at 5,700 (futures price). A bullspread of long 5,800c (62) and short 5,900c (28) could gain 15-20 on an upmove.
Rs 397; Target:
The stock hit a new high at Rs 399 on very good volumes. Difficult to set a target but a run till Rs 406-410 is possible. Keep a stop at Rs 392 and go long. Add to the position between Rs 399 and Rs 402. Book profits above Rs 406.
Current: Rs 784;
Target: Rs 794
The stock made a breakout and it could test resistance at the 52-week high of Rs 794. If it beats that, it has a possible run till Rs 805. Keep a stop at Rs 775 and go long. You could book partial profits at Rs 793-794 and hold the rest for a three-session target of Rs 805.
Current: Rs 162.5;
Target: Rs 158
The stock is reacting from its recent high of Rs 169. It could fall till Rs 157-158. Keep a stop at Rs 165 and short. Add to the position between Rs 160 and Rs 162. Book profits below Rs 158.
Current: 11,539 (futures: 11,650);
Target: 11,700 (futures: 11,775)
The index is likely to test resistance between 10,600 and 11,650 and it may break out till 11,700. The futures will continue to trade at 75-100 points premium, with a target of 11,750-11,800. Keep a stop at 11,575 (futures price) and go long. Book profits or partial profits above 11,775.