Today's picks

Nifty, TCS, Hindustan Unilever, Reliance Infra & Axis Bank

NIFTY
Current: 5,415 (futures: 5,432)
Target: NA
No net change with a daily range of 5,395-5,450. A swing today could touch either 5,475 or 5,350. Stop-loss shorts at 5,450 and stop-loss long positions at 5,370. A strangle of long 5,300p (6.5) and long 5,500c (11.5) could double in value if there's a big session.

TCS
Current price: Rs 1,324
Target price: Rs 1,350
The stock is at the new high, which makes target setting difficult. Keep a stop at Rs 1,305 and go long. Add to the position between Rs 1,327 and Rs 1,345. Book profits above Rs 1,350.

HINDUSTAN UNILEVER
Current price: Rs 520
Target price: Rs 532
Successive 52-week highs indicate a strong uptrend. Stop-loss at Rs 515 and go long. Add to the position between Rs 525 and Rs 530. Book profits above Rs 532.

RELIANCE INFRA
Current price: Rs 501
Target price: Rs 490
The stock could slide till Rs 485-490. Keep a stop at Rs 506 and go short. Add to the position between Rs 493 and Rs 498. Book profits below Rs 490.

AXIS BANK
Current price: Rs 1,095
Target price: Rs 1,075
The reaction could continue till the Rs 1,065-1,075 levels. Keep a stop at Rs 1,110 and short. Add to the position between Rs 1,080 and Rs 1,090. Book profits below Rs 1,075.

 

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