|
| Today's picks | | Nifty, SBI, Cipla, Reliance Comm & IDFC |
| Devangshu Datta / New Delhi Feb 15, 2012, 00:34 IST |
|
NIFTY
Current: 5,402 (Feb Fut: 5,452);
Target: NA
The index continues to range-trade. A swing session could push it till 5,325, or 5,500. A strangle of long 5,300p (17) and long 5,500c (38) stands to gain 20-25 if either option is struck. A bullspread of long 5,500c (38) and short 5,600c (12) could also gain on a rise but the market looks overbought.
STATE BANK OF INDIA
Current price: Rs 2,197;
Target price: Rs 2,145
A slide till Rs 2,140-2,150 is possible on profit-booking. Keep a stop at Rs 2,220 and short. Add to the position between Rs 2,165 and Rs 2,175. Start booking profits below Rs 2,150. If Rs 2,220 is broken, a jump till Rs 2,250 is possible.
CIPLA
Current price: Rs 322;
Target price: Rs 305
Selling on massive volumes pushed the stock to a key support. If it falls below Rs 318, it could drop till Rs 300-305. Keep a stop at Rs 328 and short. Add to the position between Rs 313 and Rs 317. Start booking profits below Rs 305.
RELIANCE COMM
Current price: Rs 99;
Target price: Rs 103
The stock looks capable of testing resistance in the band of Rs 102-105. Keep a stop at Rs 97 and go long. Add to the position between Rs 100 and Rs 101. Start booking profits beyond Rs 103. If Rs 97 is broken, a slide till support at Rs 93 is possible.
IDFC
Current price: Rs 138;
Target price: Rs 150
The stock is likely to test resistance between Rs 142 and Rs 144. If it closes above Rs 144, it could run till Rs 150 inside the next three sessions. Keep a stop at Rs 134 and go long. Add to the position between Rs 143 and Rs 145. Start booking profits above Rs 149.
The target price and projected movements given above are in terms of the next one trading
|
|
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
|
Content Guide
