Today's picks

Nifty, IDFC, Bank of Baroda, L&T & DLF

NIFTY
Current: 5,819 (futures: 5,846);
Target: NA
The futures premium is around 20-25 and the index has been uptrending for the past three sessions. Today it could move between 5,775 and 5,865. Stop loss shorts at 5,845 and long positions at 5,775. The bullspread of long 5,900c (44) and short 6,000c (17) remains worth holding.

IDFC

Current price: Rs 154 ;
Target price: Rs 159
The stock will test resistance at Rs 158-159 and if it passes that, it could run till Rs 163-165 in the next three sessions. Keep a stop at Rs 151 and go long. Add to the position between Rs 155 and Rs 157. Book profits or partial profits at Rs 159.

BANK OF BARODA
Current price: Rs 730;
Target price: Rs 705
The stock could react till the Rs 695-705 level. Keep a stop at Rs 740 and short. Add to the position between Rs 717 and Rs 725. Book profits at Rs 705.

L&T
Current price: Rs 1,432 ;
Target price: Rs 1,475
If the stock beats resistance at Rs 1,440, it could run up till Rs 1,475-1,490. Keep a stop at Rs 1,410 and go long. Add to the position between Rs 1,448 and Rs 1,460. Book profits above Rs 1,475.

DLF
Current price: Rs 270;
Target price: Rs 277
The stock has a lot of resistance between Rs 272 and Rs 277. It has support at Rs 260-262. Keep a stop at Rs 267 and go long with an initial target of Rs 277. Add to the position between Rs 272 and Rs 274. Book profits above Rs 277.

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