Today's picks

Nifty, Bank Nifty, JP Associates, Tata Steel & Maruti

NIFTY
Current: 6,126 (fut: 6,142);
Target: NA
Stop-loss shorts at 6,185 and stop-loss long positions at 6,075. Breakouts and breakdowns could go till 6,225 or till 6,025. A long 6,100p (18) and a long 6,150c (30) strangle has breakevens at 6,198, 6,078. (All futures prices above) and may be worth considering.

BANK NIFTY
Current: 10,508 (fut: 10,543);
Target: 10,250 (fut: 10,275)
Keep a stop at 10,625 and short. Add to the position between 10,425 and 10,450. Book profits at 10,275. (all futures prices above).

JP ASSOCIATES
Current price: Rs 41;
Target price: Rs 38.5
Keep a stop at Rs 42.5 and short. Add to the position between Rs 39 and Rs 40. Book profits at Rs 38.5.

TATA STEEL
Current price: Rs 366;
Target price: Rs 357
Keep a stop at Rs 369 and go short,. Add to the position between Rs 359 and Rs 362. Book profits at Rs 357.

MARUTI
Current: Rs 1,567;
Target: Rs 1,515
Keep a stop at Rs 1,580 and short. Add to the position between Rs 1,525 and Rs 1,540. Book profits below Rs 1,515.

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