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Today's picks

Nifty, IndusInd Bank, ITC, Tata Motors & TCS

Devangshu Datta  |  New Delhi 

NIFTY
Current: 4,863 (futures: 4,844)
Target: NA

The index could swing between 4,950 or 4,750 today. Stop-loss long positions at 4,800 and stop-loss shorts at 4,900. A long 5,000c (50) and long 4,700p (68) has gained slightly but may rise by 15-20 on a big session.

INDUSIND BANK
Current price: Rs 305
Target price: Rs 326
The stock has resistance at Rs 312-315. If it beats that, it could climb till Rs 326-330. Keep a stop at Rs 297 and go long. Add to the position between Rs 313 and Rs 316. Book profits above Rs 326.

ITC
Current price: Rs 226
Target price: Rs 212
The stock could slide till Rs 210-212 if the downtrend persists. Keep a stop at Rs 232 and short. Add to the position between Rs 219 and Rs 222. Start booking profits at Rs 212. If Rs 232 is broken, it could bounce till Rs 240.

TATA MOTORS
Current price: Rs 222
Target price: Rs 205
The stock is in a downtrend. If it breaks support at Rs 215-217, it could slide till the Rs 185-190 level, with a minimum target of Rs 202-205. Keep a stop at Rs 232 and short with a three session timeframe. Add to the position between Rs 210 and Rs 215. Book profits at Rs 205.

TCS
Current price: Rs 1,227
Target price: Rs 1,260
The stock could test resistance at Rs 1,255-1,265 and maybe move up till the Rs 1,290-1,300 zone. Keep a stop at Rs 1,210 and go long. Add to the position between Rs 1,235-1,245. Book profits or partial profits at Rs 1,260.


 

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

First Published: Wed, June 06 2012. 00:29 IST
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