Today's picks

Nifty, Bank Nifty, L&T, Infosys & M&M

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Devangshu Datta New Delhi
Last Updated : Jan 23 2014 | 10:30 PM IST
NIFTY
Current: 6,346 (fut: 6,360);
Target: NA
Stop-loss long positions at 6,290 and stop-loss shorts at 6,410. Breakouts/ breakdowns could go till 6,450 or 6,250. Given a bullish undertone, a bullspread of long 6,350c (54) and short 6,450c (15) could gain 10-15 if the index crosses 6,420.

BANK NIFTY
Current: 11,199 (fut: 11,199);
Target: 11,325 (fut: 11,325)
Keep a stop at 11,150 and go long. Add to the position between 11,225 and 11,250. Book profits above 11,325. (All futures prices)

L&T
Current price: Rs 1,033;
Target price: Rs 1,055
Keep a stop at Rs 1,020 and go long. Add to the position between Rs 1,043 and Rs 1,050. Book profits at Rs 1,055.

INFOSYS
Current price: Rs 3,793;
Target price: Rs 3,825
Keep a stop at Rs 3,765 and go long. Add to the position between Rs 3,810 and Rs 3,820. Book profits above Rs 3,825.

M&M
Current: Rs 890;
Target: Rs 870
Keep a stop at Rs 900 and go short. Add to the position between Rs 875 and Rs 885. Book profits at Rs 870.
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: Jan 23 2014 | 10:30 PM IST

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