Today's picks

Nifty, Axis Bank, Sun Pharma, ITC & Hind Unilever

NIFTY
Current: 5,916 (futures: 5,916);
Target: NA
Assume the Nifty futures will develop a premium of 15-20. The uptrend continues. Stop-loss long positions near support at 5,870 and stop-loss shorts at resistance near 5,950. Breakouts could go till 5,975 or 5,825. A bullspread of long 6,000c (57) and short 6,100c (28) could gain 15-20 if the index rises 50 points.

AXIS BANK
Current price: Rs 1,503;
Target price: Rs 1,540
A 52-week high of Rs 1,520 but a sell-off pulled the stock back. Huge volumes. Keep a stop at Rs 1,485 and go long. Add to the position between Rs 1,515 and Rs 1,525. Book profits or partial profits above Rs 1,540.

SUN PHARMA
Current price: Rs 980;
Target price: Rs 1,000
The stock jumped to a 52-week high of Rs 985-986 on high volumes. A pullback till Rs 960-970 is possible but the near-term target should be Rs 1,000-plus. Keep a stop at Rs 970 and go long. Add between Rs 985 and Rs 995. Book profits above Rs 1,000.

ITC
Current price: Rs 320;
Target price: Rs 327
A new 52-week high at Rs 323-324. The stock remains in a good uptrend - the next target would be Rs 327-328. Stop loss at Rs 315 and go long. Add to the position between Rs 323 and Rs 325. Book profits above Rs 327.

HIND UNILEVER
Current price: Rs 479;
Target price: Rs 466
The stock could slide till Rs 462-466 if a downtrend is established. Keep a stop at Rs 484 and short. Add to the position between Rs 470 and Rs 474. Book profits below Rs 466.

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