Nifty Current: 10,741 (fut: 10,745) Target: NA Stop-long positions at 10,675. Stop-short positions at 10,825. Big moves could go till 10,875, 10,650. A long 10,700p (54), short 10,600p (32) could gain 15-20 if there's a pullback till 10,700. Bank Nifty Current: 26,069 (futures: 26,045) Target: NA Stop-long positions at 25,950. Stop-short positions at 26,150.
Big moves could go till 26,350, 25,700. Backwardation in futures suggests some downside bias.
Tata Steel Current price: Rs 783 Target price: Rs 796 Keep a stop at Rs 775 and go long. Add to the position between Rs 791 and Rs 794. Book profits at Rs 796. Ambuja Cements Current price: Rs 277 Target price: Rs 282 Keep a stop at Rs 274 and go long. Add to the position between Rs 280 and Rs 281. Book profits at Rs 282. ONGC Current price: Rs 197 Target price: Rs 192 Keep a stop at Rs 200 and go short. Add to the position between Rs 193 and Rs 194. Book profits at Rs 192.