Today's picks

Nifty, Bank Nifty, IDFC, Reliance Industries & Maruti Suzuki

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Devangshu Datta New Delhi
Last Updated : Apr 16 2013 | 10:29 PM IST
NIFTY
Current: 5,689 (fut: 5,693);
Target: NA
The index may be in intermediate uptrend. Targets this session could be 5,750 or 5,625 and breakouts could push it to 5,590 or 5,775. A bullspread of long 5,800c (17) and short 5,900c (4) could double if the Nifty hits 5,750.

BANK NIFTY
Current: 11.872 (futures: 11,870)
Target: 12,100
The financial index could test the psychological barrier of 12,000 and it has a possible three-session target of 12,250. Keep a stop at 11,775 and go long. Add to the position between 11,950 and 12,025. Book profits or partial profits at 12,100.

IDFC
Current price: Rs 154;
Target price: Rs 163
If the stock breaks past resistance at Rs 155-157, it could run till Rs 163-165. Keep a stop at Rs 149 and go long. Add to the position between Rs 156 and Rs 158. Book profits above Rs 163.

RELIANCE INDUSTRIES
Current price: Rs 805;
Target price: Rs 825
A run till Rs 825-830 is possible. Keep a stop at Rs 795 and go long. Add to the position between Rs 810 and Rs 820. Book profits above Rs 825.

MARUTI SUZUKI
Current price: Rs 1,482;
Target : Rs 1,520
A run till Rs 1,520-1,530 is possible. Keep a stop at Rs 1,470 and go long. Add to the position between Rs 1,495 and Rs 1,510. Book profits above Rs 1,530.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated
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First Published: Apr 16 2013 | 10:29 PM IST

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