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Today's picks: Nifty, DLF, ITC, Infosys, Axis Bank

Source : BUSINESS_STANDARD
Last Updated: Thu, Dec 06, 2012 03:20 hrs
BSE Sensex closes up 472 points

NIFTY
Current: 5,900 (futures :5,949)
Target: NA
Another new high but stiff resistance visible above 5,900. The futures is at 40-50 points premium. The index could swing between 5,850 (futures 5,900) and 5,950 (futures 6,000) today. Hold the bullspread of long 6,000c (65) and short 6,100c (33). It could gain 15-20 if the index rises 50 points.

DLF


Current price: Rs 222
Target price: Rs 230
The stock jumped on high volumes. It could run till around the Rs 230-232 levels. Keep a stop at Rs 217 and go long. Add to the position between Rs 224 and Rs 227. Book profits at Rs 230.

ITC
Current price: Rs 298
Target price: Rs 306
The stock's bounced back after correction. If it crosses the 52-week high at Rs 299-300, it could run till Rs 306-310. Keep a stop at Rs 294 and go long. Add to the position between Rs 300 and Rs 303. Book profits above Rs 306

INFOSYS
Current price: Rs 2,383
Target price: Rs 2,335
A correction till Rs 2,315-2,335 is possible. Keep a stop at Rs 2,410 and short. Add to the position between Rs 2,355 and Rs 2,370. Book profits below Rs 2,335. If Rs 2,410 is broken, a run till Rs 2,450 is possible.

AXIS BANK
Current price: Rs 1,335
Target price: Rs 1,365
A new high at Rs 1,340 could lead to a breakout till around the Rs 1,365-1,375 levels. Keep a stop at Rs 1,320 and go long. Add to the position between Rs 1,340 and Rs 1,355. Book profits above Rs 1,365. If Rs 1,320 is broken, there may be a correction till Rs 1,290.

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