Nifty, Bharti Airtel, DLF & Hindalco
NIFTY
Current: 5,545
Target: NA
The index is range-trading 5,450-5,600. Expected session volatility would be around 125 points. Breakouts in the last two sessions of June could pull it to 5,400-5,650. A previously recommended long strangle of long June 5,500p (17) and long June 5,600c (13) costs 30. If the Nifty does breakout, there could be a huge return, to offset the expiry risk.
BHARTI AIRTEL
Current: Rs 400
Target: Rs 414
The stock has seeing selective buying and decent volumes. It could move till the Rs 412-415 zone in the next two sessions. Keep a stop at Rs 395 and go long. Add to the position between Rs 404-406 and reset the stop to Rs 400. Start booking profits at Rs 414.
DLF
Current: Rs 210
Target: Rs 206
The stock is seeing another burst of selling pressure. It could test support near the 52-week low of Rs 206. Keep a stop at Rs 212 and go short. Add to the position between Rs 208-209. Start booking profits at Rs 206.
HINDALCO
Current: Rs 181
Target: Rs 185
The stock has moved up on high volumes and it could test resistance at Rs 185-186 in the next two sessions. Keep a stop at Rs 178 and go long. Add to the position between Rs 183-184. Start booking profits at above Rs 185.
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NIFTY
Current: 5,545
Target: NA
The index is range-trading 5,450-5,600. Expected session volatility would be around 125 points. Breakouts in the last two sessions of June could pull it to 5,400-5,650. A previously recommended long strangle of long June 5,500p (17) and long June 5,600c (13) costs 30. If the Nifty does breakout, there could be a huge return, to offset the expiry risk.
BHARTI AIRTEL
Current: Rs 400
Target: Rs 414
The stock has seeing selective buying and decent volumes. It could move till the Rs 412-415 zone in the next two sessions. Keep a stop at Rs 395 and go long. Add to the position between Rs 404-406 and reset the stop to Rs 400. Start booking profits at Rs 414.
DLF
Current: Rs 210
Target: Rs 206
The stock is seeing another burst of selling pressure. It could test support near the 52-week low of Rs 206. Keep a stop at Rs 212 and go short. Add to the position between Rs 208-209. Start booking profits at Rs 206.
HINDALCO
Current: Rs 181
Target: Rs 185
The stock has moved up on high volumes and it could test resistance at Rs 185-186 in the next two sessions. Keep a stop at Rs 178 and go long. Add to the position between Rs 183-184. Start booking profits at above Rs 185.
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