Nifty
Last close: 5,565
Target: 5,200

The Nifty has been moving sideways for the last three trading days, and was unable to even test its upside resistance so far. The overall trend continues to remain bearish, and the weekly MACD has also now turned negative which is a further bearish sign. So on the upside, one can expect resistance around 5,640-5,720. A close below 5,430 will accentuate the fall, with a potential downside target of 5,200.

Grasim
Last close: Rs 2,360
Target: Rs 2,430

Grasim has logged a higher high for the third straight day. The stock is likely to get considerable support around Rs 2,330 on the downside, while it can target Rs 2,420 on the upside.

Hero Honda
Last close: Rs 1,773
Target: Rs 1,860

Hero Honda has bounced back sharply from its recent low of Rs 1,575-odd levels, around the medium-term (50-days) DMA, in the last six trading days. The stock has now once again closed above the 200-DMA. The stock is likely to find near term support around Rs 1,735, and on the upside can target Rs 1,860.

Hindalco
Last close: Rs 204
Target: Rs 220

Hindalco seems to have found support around the weekly medium-term moving average around Rs 197-odd levels. The stock may now face some resistance around Rs 207, above which it is likely to rally up to Rs 220.

Hindustan Petroleum
Last close: Rs 387
Target: Rs 350

Hindustan Petroleum (HPCL) is testing its crucial support around Rs 376-odd levels for the last two trading days. However, the MACD is on the verge of turning negative, hence one needs to watch the Rs 376-level closely. A close below the same, could trigger a fresh fall with a downside target of Rs 350-odd levels.