Current: 6,089 (fut: 6,108)
Trend showed mildly bearish signs. Use support at 6,050 as a stop-loss for long positions. Use resistance at 6,175 as stop-loss for short positions. Breakouts could go till 6,225 or 5,975. A bearspread of long 6,000p (72) and short 5,900p (47) costs 25 and it could double if the index falls below 6,050. (All futures prices).
10,389 (fut: 10,399) Target:
Keep a stop at 10,475 and short. Add to the position between 10,300 and 10,325. Book profits between 10,175 and 10,200. RELIANCE INDUSTRIES Current price:
Rs 868 Target price:
Keep a stop at Rs 880 and short. Add to the position between Rs 850 and Rs 860. Book profits below Rs 845. TCS Current price:
Rs 2,215 Target price:
Keep a stop at Rs 2,200 and go long. Add to the position between Rs 2,225 and Rs 2,240. Book profits above Rs 2,250. IDFC Current price:
Rs 93 Target price:
Keep a stop at Rs 95 and short. Add to the position between Rs 91.25 and Rs 92.25. Book profits below Rs 90.5.