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Today`s picks
Nifty, Sesa Goa, IDFC, DLF & Educomp
Devangshu Datta / New Delhi Feb 03, 2012, 00:04 IST

NIFTY
Current: 5,270 (February futures: 5,273);
Target: NA
The index hit resistance near 5,300. A major swing today would be between 5,125 and 5,400, though a range trade of 5,200-5,300 is more likely. Stop-loss short futures at 5,325 and stop-loss long futures at 5,225. Hold the recommended long 5,300c (92) and short 5,400c (50).

SESA GOA
Current price: Rs 232;
Target price: Rs 243
The stock has an almost vertical pattern over the past five sessions. It’s difficult to set upside targets but it could test Rs 243-245 today. If it reacts, Rs 221 is the nearest reliable support. Keep a stop at Rs 228 and go long. Add to the position between Rs 235 and Rs 238. Book profits above Rs 243. If the stop is broken, consider a short.

IDFC
Current price: Rs 131;
Target price: Rs 139
The stock has seen two big sessions that have cancelled each other out. It could range trade between Rs 130 and Rs 140 today implying an upmove. Keep a stop at Rs 129 and go long. Add to the position between Rs 134 and Rs 136. Book profits above Rs 139.

DLF
Current price: Rs 226;
Target price: Rs 233
The stock could rise till Rs 233-235, or fall till around Rs 219. Keep a stop at Rs 222 and go long. Add to the position between Rs 229 and Rs 231. Start booking profits above Rs 233. If the Rs 222 stop is broken, consider a short with a target of Rs 219.

EDUCOMP
Current price: Rs 234;
Target price: Rs 245
The stock has made a big move on high volumes. It could continue till the Rs 245 mark if it breaks resistance at Rs 235. A reaction would pull it back till Rs 221. Keep a stop at Rs 229 and go long. Add to the position between Rs 237 and Rs 240. Book profits above Rs 245. If Rs 229 is broken, consider a short.


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

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