Today's picks

Nifty, Bank Nifty, NTPC, HCL Tech & Bharti Airtel

NIFTY
Current: 6,000 (futures: 6,045)
Target: NA
Support at 5,950 held. Poor breadth indicates undertone is bearish. Stop at 6,105 if you go short. Stop at 5,945 if you go long. Breakouts or breakdowns could go till 6,155 or 5,900. A bearspread of long 5,900p (54) and short 5,800p (32) costs 22 and it could gain 10-15 if index drops below 5,950.

BANK NIFTY
Current: 10,191 (futures: 10,276)
Target: 9,950 (futures: 10,025)
Keep a stop at 10,325 and go short. Add to the position between 10,100 and 10,125. Book profits below 10,025. (All futures prices)

NTPC
Current: Rs 130
Target: Rs 125
Keep a stop at Rs 132 and go short. Add to the position between Rs 127 and Rs 128. Book profits below Rs 125.

HCL TECH
Current: Rs 1,402
Target: Rs 1,435
Keep a stop at Rs 1,390 and go long. Add to the position between Rs 1,410 and Rs 1,420. Book profits above Rs 1,435.

BHARTI AIRTEL
Current: Rs 316
Target: Rs 323
Keep a stop at Rs 313 and go long. Add to the position between Rs 318 and Rs 321. Book profits above Rs 323.

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