Today's picks

IDFC, Punj Lloyd & Wipro

IDFC
Current price: Rs 139
Target price: Rs 145
The stock has moved up on high volumes and then seen some profit-booking. It could have the potential to hit 144-145. Keep a stop at 136 and go long. Between 141 and 142 increase the position. Start booking profits above the 144.5 mark.

Punj Lloyd
Current price: Rs 74.5
Target price: Rs 79
The stock bottomed at around 63 and it has recovered on sharply reduced volumes. This is atypical short-covering pattern, but the rally could continue till around the 79-80 mark. Keep a stop at 72 and go long. Add to the position between 76-77. Start booking profits above 79.

Wipro
Current price: Rs 437,
Target price: Rs 420
The stock has rallied on good volumes, but it’s hitting resistance at 440-445. It could slide back till around the 420 level. Keep a stop at 445 and go short. Increase the position between 430 and 432. Start booking profits below 421. If the 445 stop is broken, the stock could go till it hits resistance at around 455.

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