Wednesday, June 8, 2011

Today's Bse Nse Stock picks

Nifty, BankNifty, RIL, ITC & Cipla

Current price: 5,556,
Target price: NA

The Nifty may have a target of 5,600-plus and maybe it will test resistance at 5,650-5,675 in the next three sessions. Downside, below support at 5,550, there's support at 5,500 and below at 5,450.

A bullspread of long 5,600c (70) and short 5,700c (34) offers a maximum return of 64 with a maximum cost of 36 and breakeven at 5,636.

Current price: 10,873
Target price: 11,100

The BankNifty could see a move till 10,950 today and an upside till 11100 in the next 3 sessions. Keep a stop loss at 10,750 and go long. Add to the position between 10,950 and 11,000 and reset the stop to 10,900. Start booking profits above 11,100.

Current price: Rs 959
Target price: Rs 985

Critical resistance exists between 955-965. If that's broken, RIL could rise till around the 985-990 levels. Keep a stop at 945 and go long. Add to the position between 966 and 975 and reset the stop to 960. Start booking profits above the 985 mark.

Current price: Rs 194
Target price: Rs 205

The stock saw a burst of buying yesterday towards end-session and closed strong. It’s likely to test resistance at 197-plus today and it could hit 200. In that case, there would be a 3-session target of between 205-210. Keep a stop at 191 and go long Add to the position between 195-197. Book partial profits above 199 and hold the rest for a target of 205.

Current price: Rs 338
Target price: Rs 345
The stock has made a sequence of recent breakouts. It could have a target in the range of 345-350 in the next 3 sessions. Keep a stop at 334 and go long. Add to the position between 339 and 341. Start booking profits above 345. If you can hold till settlement, use a trailing stop loss and hold for a target of 375-380.    

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