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Today's picks

Source : BUSINESS_STANDARD
Last Updated: Thu, Nov 08, 2012 19:32 hrs
​government wants us to invest in shares

Nifty
Current: 5,739 (futures: 5,767 )
Target: NA
A swing session could move the index till 5,670 (futures price 5,700) or 5,800 ( fut 5,830), with the futures at 30-40 points premium. Stop loss shorts at 5,770 (fut 5,800) and stop loss long positions at 5,700 (fut: 5,730). A deep bearspread of long 5,600p (20) and short 5,500p (9) could double in value on a drop till 5,700.

Idea Cellular
Current price: Rs 91
Target price: Rs 94
The stock could have a target of Rs 94-95. Keep a stop at Rs 89 and go long. Add to the position between Rs 92 and Rs 93. Book profits above Rs 94. If Rs 89 is broken, the next support is at Rs 85.

L&T
Current price: Rs 1,635
Target price: Rs 1,680
There is good support between Rs 1620 and Rs 1,635. Keep a stop at Rs 1,615 and go long. Add to the position between Rs 1,650 and Rs 1,665. Book profits above Rs 1,680.

Axis Bank
Current price: Rs 1,223
Target price: Rs 1,190
The correction could continue till Rs 1,175-1,190. Keep a stop at Rs 1,235 and short. Add to the position between Rs 1,200 and Rs 1,210. Book profits below Rs 1,190.

Tata Motors
Current price: Rs 284
Target price: Rs 297
A sharp rise on high volumes could take the stock till Rs 297-300 in the next three sessions. Keep a stop at Rs 277 and go long. Add to the position between Rs 289 and Rs 292. Book profits above Rs 297. If Rs 277 is broken, the correction could continue till Rs 268.


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



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