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Today's picks: Nifty, RIL, DLF, Wipro

Source : BUSINESS_STANDARD
Last Updated: Mon, Jan 28, 2013 20:11 hrs
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NIFTY
Current: 6,075 (futures: 6,078)
Target: NA
Futures and index are aligned with three days to settlement. The trend still looks bullish. Today, the index could move till 6,125 or 6,025. Stop-loss long positions at 6,045 and stop-loss shorts at 6,105. The long 6,100c (30) could yield 500 per cent returns if it is struck.

BANK NIFTY 
Current: 12,781 (futures: 12,799)


Target: 13,050
The futures premium is negligible. If there's a rate cut, the financial index could swing up till 13,000-13,100 plus. On the downside, a fall till 12,500 is possible if there's no cut. Keep a stop at 12,675 and go long. Add to the position between 12,950 and 13,000. Book profits above 13,050.

RELIANCE INDUSTRIES
Current price: Rs 898
Target price: Rs 915
The stock has reacted to support at Rs 895. If that breaks, it could fall till Rs 885. On the upside, a bounce till Rs 915-925 is possible. Keep a stop at Rs 890 and go long. Add to the position between Rs 900 and Rs 910. Book profits above Rs 915.

DLF 
Current price: Rs 266.7
Target price: Rs 272
The stock hit a new high on good volumes. Next target could be Rs 271-273. Keep a stop at Rs 264 and go long. Add to the position between Rs 268 and Rs 270. Book profits above Rs 272.

WIPRO
Current price: Rs 413.5
Target price: Rs 425
The stock has some resistance at Rs 417-420. If that is overcome, it could hit Rs 425-430. Keep a stop at Rs 408 and go long. Add to the position between Rs 418 and Rs 422. Book profits above Rs 425.


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