Today's picks

Nifty, Bank Nifty, BHEL, Tata Motors, Ranbaxy

NIFTY
Current: 6,022 (futures: 6,044);
Target: NA
The support at the 200 Day Moving Average has held for two sessions. Keep a stop at 6,105 for short positions and a stop at 5,965 for long positions. Breakouts or breakdowns could go till 6,150 and 5,900, respectively. A bullspread of long 6,100c (77) and short 6,200c (41) could gain 15-20 on a move beyond 6,125.

BANK NIFTY
Current: 10,232; (futures: 10,265)
Target: 10,125
Keep a stop at 10,325 and go short. Add to position between 10,175 and 10,200. Book profits below 10,125. If 10,325 broken, the index could climb till 10,425.
(All futures prices above)

BHEL
Current: Rs 161;
Target: Rs 168
Keep a stop at Rs 157 and go long. Add to the position between Rs 163 and Rs 166. Book profits above Rs 168.

TATA MOTORS
Current: Rs 356;
Target: Rs 342
Keep a stop at Rs 362 and short. Add to the position between Rs 347 and Rs 350. Book profits at Rs 342.

RANBAXY
Current: Rs 340;
Target: Rs 320
Keep a stop at Rs 347 and short. Add to the position between Rs 330 and Rs 334. Book profits below Rs 320.

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