Today's picks

Nifty, DLF, Yes Bank, BHEL & Hind Unilever

NIFTY
Current: 5,670 (futures: 5,682); 
Target: NA
The index may swing between 5,600 and 5,750. Stop loss-short positions at 5,725. Stop loss-long positions at 5,625. A long 5,700c (30) could double in value if the index breaks 5,700 while a long 5,600p(10) will double if it drops below 5,600. The combination strangle breakevens at 5,740 or 5,560.

DLF
Current price: Rs 235;
Target price: Rs 229
A pullback from Rs 242 could lead to a deeper correction. The stock has reliable support at Rs 228-230. Keep a stop at Rs 239 and go short. Add to the position between Rs 231 and Rs 233. Book profits below Rs 229.

YES BANK
Current price: Rs 377;
Target price: Rs 390
If the stock beats resistance at Rs 380-382, it could run till Rs 390-392. Keep a stop at Rs 371 and go long. Add to the position between Rs 381 and Rs 383. Book profits above Rs 390.

BHEL
Current price: Rs 248;
Target price: Rs 257
The stock has seen a very strong uptrend from Rs 195 to Rs 251. Given high volumes, the trend could continue till Rs 258-260. Keep a stop at Rs 244 and go long. Add to the position between Rs 252 and Rs 255. Book profits above Rs 257.

HIND UNILEVER
Current price: 518;
Target price: Rs 505
The stock's dropped on profit-booking. It has reliable support around Rs 500-505. Keep a stop at Rs 525 and go short. Add to the position between Rs 510 and Rs 515. Book profits below Rs 505.

 

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