Today's picks

Nifty, Bank Nifty, HCL Tech, Ranbaxy & DLF

NIFTY
Current: 6,273 (futures: 6,300)
Target: NA
The index may be poised for an upside breakout. Stop-loss long positions at 6,235. Stop-loss shorts at 6,350. A breakout could go till 6,400-plus. A bullspread of long 6,400c (35) and short 6,500c (13) could double if 6,400 is struck. (All futures prices above).

BANK NIFTY
Current: 11,021 (futures: 11,095)
Target: 11,225 (futures: 11,275)
Keep a stop at 11,000 and go long. Add to the position between 11,150 and 11,175. Book profits above 11,275. (All futures prices above)

HCL TECH
Current: Rs 1,343
Target: Rs 1,375
Keep a stop at Rs 1,330 and go long. Add to the position between Rs 1,352 and Rs 1,365. Book profits above Rs 1,375.

RANBAXY
Current: Rs 439
Target: Rs 425
Keep a stop at Rs 446 and go short. Add to the position between Rs 430 and Rs 434. Book profits or partial profits below Rs 425. If the stock breaks support at Rs 420, it could dip till Rs 400.

DLF
Current: Rs 161
Target: Rs 165
Keep a stop at Rs 159 and go long. Add to the position between Rs 162 and Rs 164. Book profits above Rs 165.

Target prices, projected movements in terms of next session, unless otherwise stated