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Today's picks: Nifty, HUL, Bharti Airtel, Wipro, HDFC Bank

Source : BUSINESS_STANDARD
Last Updated: Thu, Feb 14, 2013 22:10 hrs
nse

NIFTY

Current: 5,895 (futures: 5,897);

Target: NA

The downtrend still seems in force. The futures premium is nominal and there's resistance at 5,925 and support at 5,880. A big session could move the index till 5,850 or 5,960. Stop loss long positions at 5,875 and stop loss shorts at 5,945. A bearspread of long 5,900p (66) and short 5,800p (29) could gain 10-15 if the index drops.

HIND UNILEVER

Current price: Rs 464.5;

Target price: Rs 475

The stock consolidated at support between Rs 450 and Rs 455 before moving up. It has a potential target of Rs 475-480. Keep a stop at Rs 458 and go long. Add to the position between Rs 468 and Rs 472. Book profits above Rs 475.

BHARTI AIRTEL

Current price: Rs 312;

Target price: Rs 300

The stock hit a one-month low and it is testing key support between Rs 310 and Rs 313. A fall below Rs 309 could take it down till Rs 296-300. On the upside, a bounce till Rs 319 is possible. Keep a stop at Rs 317 and short. Add to the position between Rs 306 and Rs 309. Book profits below Rs 300.

WIPRO

Current price: Rs 396;

Target price: Rs 385

The stock is testing key support between Rs 393 and Rs 396. If it falls below Rs 393, it could drop till Rs 385. Keep a stop at Rs 403 and short. Add to the position between Rs 389 and Rs 392. Book profits below Rs 385.

HDFC BANK

Current price: Rs 675;

Target price: Rs 695

The stock hit a one-month high on good volumes. It could have a target in the Rs 695-705 zone. Keep a stop at Rs 665 and go long. Add to the position between Rs 679 and Rs 685. Book profits above Rs 695.


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