Today's picks

Nifty, BankNifty, Coal India, Idea Cellular, Tata Motors

NIFTY
Current: 6,308 (fut: 6,356)
Target: NA
The index may range-trade inside 6,275-6,415 for another couple of sessions. Stop loss shorts at 6,400. Stop loss long positions at 6,300. Breakouts/ breakdowns could go till 6,250 or 6,450. A strangle of long 6,200p (30) and long 6,500c (27) could gain 15 if the index swings 75 points. (All futures prices).

BANKNIFTY

Current: 11,784 (fut: 11,950)
Target:(fut: 11,750)
A late surge has led to very high premium on the futures to spot. Keep a stop at 12,025 and short. Add to the position between 11,875-11,900. Book profits below 11,750. (All futures prices).

COAL INDIA
Current price: Rs 289
Target price: Rs 280
Keep a stop at 294 and short. Add to the position between 284-286. Book profits at 280.

IDEA CELLULAR
Current price: Rs 172.4
Target price: Rs 165
Keep a stop at 175 and go short. Add to the position between 166-168. Book profits below 165.

TATA MOTORS
Current price: Rs 378
Target price: Rs 387
Keep a stop at 376 and go long. Add to the position between 382-385. Book profits above 387.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated