Today's picks Nse bse Stock

IBREL, Axis Bank & Sun Pharma
Devangshu Datta / New Delhi December 24, 2010, 0:31 IST

IBREL
Current: Rs 128.5,
Target: Rs 119
Indiabulls Real Estate’s stock seems to have made a downside break out though there’s support at Rs 127-128. If it drops below Rs 127, it could slide all the way till Rs 118. Keep a stop at Rs 131 and go short. Increase the position between Rs 124 and Rs 126 and reset the stop to Rs 127. Book profits below Rs 120.

AXIS BANK
Current Price: Rs 1,314,
Target Price: Rs 1,275
Volumes have dropped alarmingly suggesting a breakdown. If the stock falls below Rs 1,305, it could drop till the Rs 1,270-1,280 mark. Keep a stop at Rs 1,325 and go short. Increase the position between Rs 1,295 and Rs 1,305 and reset the stop to Rs 1,310. Below Rs 1,280, book profits.

SUN PHARMA
Current: Rs 453,
Target: Rs 463
The stock bottomed out at Rs 423 and has since risen on high volumes. It has a minimum target near Rs 460 and a good trending session could push it to Rs 465. Keep a stop at Rs 447 and go long. Add to the position between Rs 455 and Rs 458 and reset the stop to Rs 454. Book profits above Rs 462.


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