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Today's picks: RIL, TCS, IDFC

Source : BUSINESS_STANDARD
Last Updated: Thu, Oct 17, 2013 18:00 hrs
Bse Market<br>

NIFTY
Current: 6,089 (fut: 6,108)
Target: NA
Trend showed mildly bearish signs. Use support at 6,050 as a stop-loss for long positions. Use resistance at 6,175 as stop-loss for short positions. Breakouts could go till 6,225 or 5,975. A bearspread of long 6,000p (72) and short 5,900p (47) costs 25 and it could double if the index falls below 6,050. (All futures prices).

BANKNIFTY


Current: 10,389 (fut: 10,399)
Target: 10,175
Keep a stop at 10,475 and short. Add to the position between 10,300 and 10,325. Book profits between 10,175 and 10,200.

RELIANCE INDUSTRIES
Current price: Rs 868
Target price: Rs 845
Keep a stop at Rs 880 and short. Add to the position between Rs 850 and Rs 860. Book profits below Rs 845.

TCS
Current price: Rs 2,215
Target price: Rs 2,250
Keep a stop at Rs 2,200 and go long. Add to the position between Rs 2,225 and Rs 2,240. Book profits above Rs 2,250.

IDFC
Current price: Rs 93
Target price: Rs 90.5
Keep a stop at Rs 95 and short. Add to the position between Rs 91.25 and Rs 92.25. Book profits below Rs 90.5.

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