Today's picks

Nifty, Bank Nifty, PowerGrid, Wipro & Ambuja Cement

NIFTY
Current: 6,483 (futures: 6,506);
Target: NA
Stop-loss shorts at 6,555 and stop loss long positions at 6,450. Breakouts or breakdowns could go till 6,600 or 6,400. A bearspread of long 6,500p (45) and short 6,400p (16) could gain another 15-20 if the index hits 6,450. (All futures prices above)

BANK NIFTY
Current: 12,017 (fut: 12,080);
Target: 19,800 (fut: 19,850)
Keep a stop-loss at 12,175 and go short. Add to the position between 19,970 and 12,000. Book profits at 11,850. (All futures prices above)

POWERGRID
Current price: Rs 99;
Target price: Rs 95
Keep a stop at Rs 102 and go short. Add to the position between Rs 96 and Rs 98. Book profits at Rs 95.

WIPRO
Current price: Rs 552;
Target price: Rs 570
Keep a stop at Rs 540 and go long. Add ot the position between Rs 560 and Rs 565. Book profits at Rs 570.

AMBUJA CEMENT
Current: Rs 183;
Target: Rs 175
Keep a stop at Rs 187 and short. Add to the position between Rs 177 and Rs 180. Book profits below Rs 175.

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