Today's picks

Nifty, Axis Bank, PowerGrid, TCS & Hindalco

NIFTY
Current: 5,335 (futures: 5,340)
Target: NA
A big session could take the index till either 5,400 or 5,275. Stop-loss shorts at 5,365 and stop-loss long positions at 5,295. A strangle of long 5,300p (9.5) and 5,400c (6) would gain on a big swing.

AXIS BANK
Current price: Rs 1,017
Target price: Rs 985
The stock could test support between Rs 970 and Rs 990 today. Keep a stop at Rs 1,035 and short. Add to the position between Rs 995 and Rs 1,005. Book profits below Rs 985.

POWERGRID
Current price: Rs 121.5
Target price: Rs 125
The stock hit a new 52-week high and it could move till Rs 125-126 if it breaks resistance at Rs 122-123. Keep a stop at Rs 119 and go long. Add to the position between Rs 123 and Rs 124. Book profits above Rs 125.

TCS
Current price: Rs 1,351
Target price: Rs 1,370
The stock hit a new 52-week high. It could move till around Rs 1,370-1,375. Keep a stop at Rs 1,335 and go long. Add to the position between Rs 1,355 and Rs 1,365. Book profits above Rs 1,370.

HINDALCO
Current price: Rs 107
Target price: NA
The stock hit a new 52-week low. It could fall further till around the Rs 99-102 level if support between Rs 105 and Rs 107 breaks. Keep a stop at Rs 109 and short. Add to the position between Rs 104 and Rs 105. Start booking profits below Rs 102.

 

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