Stop-long positions at 11,675. Stop-short positions at 11,850.
Big moves could go till 11,900, 11,625. A long May 16 11,600p (42), short 11,500p (23) could gain 10-15 if the index falls till 11,625.
Bank Nifty
Current: 29,708 (fut: 29,810),
Target: NA
Stop-long positions at 29,650. Stop-short positions at 29,950.
Big moves could go till 30,125, 29,500. Trend is slightly bearish.
Sun Pharma
Current price: Rs 453
Target price: Rs 446
Keep a stop at Rs 457 and go short. Add to the position between Rs 447 – Rs 449. Book profits at Rs 446.
Tata Motors
Current price: Rs 207
Target price: Rs 202
Keep a stop at Rs 210 and go short.
Add to the position between Rs 203 – Rs 204. Book profits at Rs 202.
Power Grid
Current price: Rs 190
Target price: Rs 194
Keep a stop at Rs 188 and go long. Add to the position between Rs 192 – Rs 193.
Book profits at Rs 194.