Today's picks

Nifty, Bank Nifty, Jindal Steel and Power, DLF & TCS

NIFTY
Current: 6,733 (futures: 6,751);
Target: NA
Stop-loss shorts at 6,825 and stop long positions at 6,675. Breakouts or breakdowns could go till 6,875 or 6,600. A bearspread of long 6,700p (33) and short 6,600p (12) could double in price if the Nifty falls below 6,700. (All futures prices above)

BANK NIFTY
Current: 12,590 (fut: 12,622);
Target: 12,400 (fut: 12,450)
Keep a stop at 12,700 and go short. Add to the position between 12,525 and 12,550. Book profits below 12,450. (All futures prices above)

JINDAL STEEL AND POWER
Current price: Rs 268;
Target price: Rs 256
Keep a stop at Rs 272 and go short. Add to the position between Rs 262 and Rs 266. Book profits below Rs 256.

DLF
Current price: Rs 166;
Target price: Rs 159
Keep a stop at Rs 170 and go short. Add to the position between Rs 161 and Rs 164. Book profits at Rs 159.

TCS
Current price: Rs 2,253;
Target price: Rs 2,300
Keep a stop at Rs 2,220 and go long. Add to the position between Rs 2,270 and Rs 2,280. Book profits above Rs 2,300.

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