Today's picks

Nifty, Bank of Baroda, BPCL, TCS & IDFC

NIFTY
Current: 5,390 (futures: 5,406)
Target: NA
The index looks bullish and it could run till 5,450. A correction may pull it down till 5,335. A long 5,500c (23.5) would gain 10-15 if the index crossed 5,425, while a long 5,300p (26) could gain 10-15, if the Nifty dropped below 5,350.

BANK OF BARODA
Current price: Rs 646.5
Target price: Rs 670
The stock should test resistance at Rs 655. If it clears that, it could climb till Rs 670-675. Keep a stop at Rs 638 and go long. Add to the position between Rs 655 and Rs 660. Book profits above Rs 670. If it falls below Rs 637, it could drop till Rs 625.

 

BPCL
Current price: Rs 349
Target price: Rs 362
A highly speculative long position is possible. If fuel prices are hiked, the stock could soar till Rs 362-365 or higher. If not, it could slide till Rs 330-335. Keep a stop at Rs 345 and go long. Add to the position between Rs 352 and Rs 355. Book profits above Rs 362.

TCS
Current price: Rs 1,392.65
Target price: Rs 1,425
The stock is likely to test its recent 52-week high (Rs 1,396-1,397). If it crosses that, it could run till Rs 1,425-1,430. Keep a stop at Rs 1,380 and go long. Add to the position between Rs 1,396 and Rs 1,410. Book profits above Rs 1,425.

IDFC
Current price: Rs 131.5
Target price: Rs 134.5
The stock could test Rs 134-135 over the next three sessions. Keep a stop at Rs 129.5 and go long. Add to the position between Rs 132 and Rs 133.4. Book profits above Rs 134.5.

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