Today's picks

Nifty, Bank Nifty, DLF & Maruti Suzuki

NIFTY
Current: 5,289 (Nov fut: 5,311)
Target: NA
The index remains range bound. One session expectations would be anywhere between 5,200 and 5,400. Stop-loss short positions at 5,350 and stop-loss long positions at 5,240. The strangle of long 5,100p (32) and long 5,500c (24) could gain 15-20 on a 100-point swing.

BANK NIFTY
Current: 9,852 (Nov fut: 9,893)
Target: 10,100
The financial index made a recovery after bouncing off strong support at 9,750. It has quite strong resistance at 9,900. A breakout could take it either 9,600, or 10,100 in the next two sessions. Keep a stop at 9,800 and go long. Add to the position between 9,950 and 10,000 and book profits above 10,100.

DLF
Current: Rs 242
Target: Rs 228
The stock’s poised on a key support zone between Rs 238 and Rs 243. If it falls below Rs 238, it could drop till Rs 228. Keep a stop at Rs 247 and go short. Add to the position between Rs 233 and Rs 237. Book profits below Rs 229.

MARUTI SUZUKI
Current: Rs 1,124
Target: Rs 1,084 There’s a lot of resistance between Rs 1,110 and Rs 1,135 and a fall below Rs 1,110 could mean a 2-3 session slide till Rs 1,080. Keep a stop at Rs 1,040 and short. Add to the position between Rs 1,095 and Rs 1,110. Start booking profits below Rs 1,085.

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