Today's picks

NIFTY, YES BANK, BAJAJ AUTO, IDFC & ONGC

NIFTY
Current: 5,328 (July futures: 5,339); Target: NA
The index is inching up. A big upmove could hit 5,400, while a reaction could push it back till 5,250. A bullspread of long 5,400c (55) and short 5,500c (25) could fetch gains of 15-20 if 5,400 is hit.

YES BANK
Current price: Rs 358;
Target price: Rs 370
The run up could continue till the Rs 370-375 zone. Keep a stop at Rs 351 and go long. Add to the position between Rs 360 and Rs 366. Start booking profits above Rs 370.

BAJAJ AUTO
Current price: Rs 1,556;
Target price: Rs 1,515
A reaction has started from the Rs 1,590-1,600 level. The downside could be till Rs 1,500-1,515. Keep a stop at Rs 1,570 and short. Add to the position between Rs 1,530 and Rs 1,545. Book profits below Rs 1,515.

IDFC
Current price: Rs 143;
Target price: Rs 149
The stock has established a steady uptrend, hitting a three-month high. It could run till around the Rs 149-150 levels. Keep a stop at Rs 140 and go long. Add to the position between Rs 144 and Rs 146. Book profits above Rs 149.

ONGC
Current price: Rs 278;
Target price: Rs 270
A fall till the Rs 265-270 level is possible if a downtrend develops. Keep a stop at Rs 284 and short. Add to the position between Rs 272 and Rs 276. Book profits below Rs 270.

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