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Today's picks

Nifty, YES Bank, Hero MotoCorp, Asian Paints & Axis Bank

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NIFTY
Current: 5,188 (May futures: 5,206);
Target: NA
The support at 5,180 held but the index seems bearish. A swing session could go till either 5,125 or 5,275. Keep stops at 5,250 (short) and 5,150 (long). Hold a strangle of long 5,400c (31) and long 5,100p (63) or a bearspread of long 5,200p (101) and short 5,100p (63).

YES BANK
Current price: Rs 338;
Target price: Rs 325
The stock has a potential downside target of somewhere between Rs 315 and Rs 325. Keep a stop at Rs 345 and go short. Add to the position between Rs 328 and Rs 334. Book profits at Rs 325.

HERO MOTOCORP
Current price: Rs 2,073;
Target price: Rs 1,975
The stock has some support at Rs 2,055. If it falls below Rs 2,050, it could drop till Rs 1,975. Keep a stop at Rs 2,125 and short with a five-session timeframe. Add to the position between Rs 2,030 and Rs 2,050. Book profits below Rs 1,975.

ASIAN PAINTS
Current price: Rs 3,603;
Target price: Rs 3,665
The stock moved up to a new 52-week high albeit on low volumes. It could test resistance at Rs 3,625-3,635 again. A breakout will take it to Rs 3,665-3,675. Keep a stop at Rs 3,570 and go long. Add to the position between Rs 3,625 and Rs 3,635. Book profits above Rs 3,665.

AXIS BANK
Current price: Rs 1,058;
Target price: Rs 1,020
The downtrend may continue till Rs 995-1,015. Keep a stop at Rs 1,075 and short. Add to the position between Rs 1,040 and Rs 1,055. Book profits below Rs 1,020.


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

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Today's picks

The index closed bearish.

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