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Today's picks

Source : BUSINESS_STANDARD
Last Updated: Wed, Jan 23, 2013 20:11 hrs

NIFTY 
Current: 6,054 (futures: 6,079);
Target: NA
A correction till support at 6,020 was followed by a bounce. Premium on the futures has risen - usually a sign of bullish sentiment. A swing session could go till 6,100-plus or back till 6,000. Stop-loss shorts at 6,080 (futures 6,095) and stop-loss long positions at 6,010 (futures 6,020). The strangle of long 6,100c (31) and long 6,000p (16) remains zero-delta and worth holding.

ICICI BANK
Current price: Rs 1,181;
Target price: Rs 1,210
The stock seems to have finished a correction and it could run till the Rs 1,210-1,220 levels in the next three sessions. Keep a stop at Rs 1,165 and go long. Add to the position between Rs 1,195 and Rs 1,205. Book profits or partial profits above Rs 1,210.

BHARTI AIRTEL 
Current price: Rs 367;
Target price: Rs 375
The stock is in a steady uptrend. It will have corrections but it should push up to the Rs 380-385 level by the settlement. Keep a stop at Rs 360 and go long. Add to the position between Rs 369 and Rs 372. Book profits or partial profits above Rs 375.

LARSEN &TOUBRO 
Current price: Rs 1,561;
Target price: Rs 1,600
Support at Rs 1,535-1,545. Resistance at Rs 1,570-1,575. Breakouts or breakdowns will go to Rs 1,600 or Rs 1,500. Results may trigger a big move. Tentatively keep a stop at Rs 1,545 and go long. Add to the position between Rs 1,575 and Rs 1,585. Book profits above Rs 1,600. If the Rs 1,545 stop is broken, go short with a target of Rs 1,500 and a stop at Rs 1,550.

BPCL
Current price: Rs 424;
Target price: Rs 435
The stock bounced off support at Rs 410. It could run up till Rs 435-440. Keep a stop at Rs 418 and go long. Add to the position between Rs 426 and Rs 430. Book profits above Rs 435.


The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated



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