Today's picks

Nifty, ITC, Hero MotoCorp, DLF & Axis Bank

NIFTY
Current: 5,279 (July futures: 5,290)
Target: NA
The trend is net bullish. A swing session could move the index till 5,350 or down till 5,200. Stop-loss any long positions at 5,200 and stop-loss shorts at 5,325. A bullspread of long 5,400c (48) and short 5,500c (22) costs 26 and it could gain 15-20 on a big upmove.

ITC
Current price: Rs 250
Target price: Rs 260
The stock hit a new 52-week high and reacted sharply. It could find support at Rs 245-247 and test the Rs 260-261 level again. Keep a stop at Rs 245 and go long. Add to the position between Rs 253 and Rs 255. Book profits or partial profits at Rs 260.

 

HERO MOTOCORP
Current price: Rs 2,114
Target price: Rs 2,065
A reaction till support at Rs 2,045-2,065 is possible. Keep a stop at Rs 2,140 and short. Add to the position between Rs 2,085 and Rs 2,105. Book profits below Rs 2,065.

DLF
Current price: Rs 205
Target price: Rs 212
The stock has the potential to reach Rs 212-214. Keep a stop at Rs 199 and go long. Add to the position between Rs 207 and Rs 209. Book profits above Rs 212.

AXIS BANK
Current price: Rs 1,029
Target price: Rs 995
The stock could be due for a reaction till Rs 985-995. Keep a stop at Rs 1,040 and go short. Add to the position between Rs 1,005 and Rs 1,015. Book profits below Rs 995.

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