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Today's picks: Nifty, Axis Bank, Sun Pharma, ITC, HUL

Source : BUSINESS_STANDARD
Last Updated: Fri, Apr 26, 2013 04:14 hrs
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NIFTY
Current: 5,916 (futures: 5,916);
Target: NA
Assume the Nifty futures will develop a premium of 15-20. The uptrend continues. Stop-loss long positions near support at 5,870 and stop-loss shorts at resistance near 5,950. Breakouts could go till 5,975 or 5,825. A bullspread of long 6,000c (57) and short 6,100c (28) could gain 15-20 if the index rises 50 points.



AXIS BANK
Current price: Rs 1,503;
Target price: Rs 1,540
A 52-week high of Rs 1,520 but a sell-off pulled the stock back. Huge volumes. Keep a stop at Rs 1,485 and go long. Add to the position between Rs 1,515 and Rs 1,525. Book profits or partial profits above Rs 1,540.

SUN PHARMA
Current price: Rs 980;
Target price: Rs 1,000
The stock jumped to a 52-week high of Rs 985-986 on high volumes. A pullback till Rs 960-970 is possible but the near-term target should be Rs 1,000-plus. Keep a stop at Rs 970 and go long. Add between Rs 985 and Rs 995. Book profits above Rs 1,000.

ITC
Current price: Rs 320;
Target price: Rs 327
A new 52-week high at Rs 323-324. The stock remains in a good uptrend - the next target would be Rs 327-328. Stop loss at Rs 315 and go long. Add to the position between Rs 323 and Rs 325. Book profits above Rs 327.

HIND UNILEVER
Current price: Rs 479;
Target price: Rs 466
The stock could slide till Rs 462-466 if a downtrend is established. Keep a stop at Rs 484 and short. Add to the position between Rs 470 and Rs 474. Book profits below Rs 466.

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