Today's picks

Nifty, Bank Nifty, Wipro, Reliance Industries & Reliance Communications

NIFTY
Current: 6,304 (fut: 6,318);
Target: NA
Stop-loss shorts at 6,365. Stop-loss long positions at 6,245. Breakouts could go till 6,400 and breakdowns till 6,200. A bullspread of long 6,300c (65) and short 6,400p (23) costs 42 and it could gain 15-20 if the Nifty moves above 6,375.

BANK NIFTY
Current: 11,007 (fut: 11,045);
Target: 11,150 (fut: 11,175)
Keep a stop at 10,950 ad go long,. Add to the position between 11,075 and 11,100. Book profits above 11,175. (All futures price above)

WIPRO
Current price: Rs 573;
Target price: Rs 585
Keep a stop at Rs 567 and go long. Add to the position between Rs 578 and Rs 582. Book profits above Rs 585.

RELIANCE INDUSTRIES
Current price: Rs 870;
Target price: Rs 855
Keep a stop at Rs 880 and short. Add to the position between Rs 860 and Rs 865. Book profits below Rs 855.

RELIANCE COMMUNICATIONS
Current price: Rs 133;
Target price: Rs 126
Keep a stop at Rs 135 and short. Add to the position between Rs 128 and Rs 129. Book profits at Rs 126.

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