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Today's picks

Devangshu Datta/New Delhi 10 Aug 12 | 12:33 AM

NIFTY
Current: 5,323 (futures: 5,358)
Target: NA
The index showed a little weakness on Wednesday. It could move between 5,250 and 5,400 if there's a swing session. The bear spread of long 5,300p (49) and short 5,200p (24) would gain 15-20 if the index drops below 5,300. Stop loss shorts at 5,365 and stop loss long positions at 5,300.

ITC
Current price: Rs 266
Target price: Rs 272
The stock hit a new 52-week high. It could move till 272-275 if the momentum lasts. Keep a stop at 263 and go long. Add to the position between 267-270. Book profits above 272.

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BPCL
Current price: Rs 340
Target price: Rs 330
The stock could move down till the 325-330 level with some support at 337. Keep a stop at 345 and short. Add to the position between 334 and 337. Book profits below 330.

SBI
Current price: Rs 1,972
Target price: Rs 1,930
The stock could test support at 1915-1935. Keep a stop at 1995 and go short. Add to the position between 1950-1965. Book profits below 1930.

COAL INDIA
Current price: Rs 352
Target price: Rs 362
The stock might hit resistance at 362-365. Keep a stop at 349 and go long. Add to the position between 355 and 358. Book profits above 362.


 

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

Sensex

Company Price Gain (%)
Hindalco Inds.141.304.40
Tata Motors428.654.24
ICICI Bank1,262.003.25
B H E L181.053.10
St Bk of India2,017.802.96

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