Wednesday, June 1, 2011

Today's Bse Nse Stock picks


Nifty, Bank Nifty, BPCL, Punj Lloyd & IDFC


NIFTY
Current Spot: 5,560 (June Future:5,552),
Target: NA

The Nifty could move up till 5,650-5,700 level, if the uptrend holds for 3 sessions. It could fall till support at 5,450. A long June future, with a stop loss at 5,520, can be coupled to a bearspread of long 5,500p (76) and short 5,400p (46). The maximum loss is 55-60 between the range of 5,500-5,550. Upside gain is unlimited. Downside gain is a max of about 40. Breakevens are around 5,590, 5,440.

BANK NIFTY
Current Spot: 11,021,
Target Spot: 11,150

The discount on futures remains but the index is still rising. It could test resistance at 11,060 today and it may climb till 11,150-11,175. Keep a stop at 10,850 and go long in the June future. Add to the position when the spot is 11,060-11,100. Book profits when the spot hits 11,150. If the spot falls below 11,900, the Bank Nifty could slide back till 11,750.


BPCL
Current: Rs 633
Target: Rs 650

The stock is bound to swing on the basis of fuel pricing. It has a potential upside till Rs 650-655 and it could go till Rs 665 if there is a big hike. The downside is till Rs 605 with interim support at Rs 625 and Rs 615. Keep a stop at Rs 620 and go long with a 5-session timeframe and a target of Rs 650. Add to the position between Rs 637- 643 and reset the stop to Rs 632. Book profits above Rs 650.

PUNJ LLOYD
Current: Rs 68
Target: Rs 72

The stock made an extraordinary jump on huge volumes. It could move till around Rs 72-73, perhaps till Rs 77 if the breakout was valid. Keep a stop at Rs 66 and go long. Add to the position between Rs 69-70 and reset the stop to Rs 68. Start booking profits above Rs 72.

IDFC
Current: Rs 142
Target: Rs 146

The stock has climbed on some volume expansion. The chart pattern suggests it could move till Rs 145-146 in 3 sessions and maybe, till Rs 150 if there's sufficient momentum. Keep a stop at Rs 139 and go long. Add to the position between Rs 144-145 and reset the stop to Rs 142. Book profits above Rs 146.

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




        Related Articles

No comments:

Post a Comment