Today's picks

Nifty, Bank Nifty, Aurobindo Pharma, BHEL & Hindalco

NIFTY
Current: 6,761 (futures: 6,823);
Target: NA
The Nifty could trade between 6,775 and 6,850 with possible breakouts to 6,700 or till 6,900. Stop-loss short positions at 6,850 and stop-loss long positions at 6,770. A bearspread of long 6,700p (184) and short 6,600p (146) costs 38 and it could gain 15 if the 6,700 level is struck. (All futures prices).

BANK NIFTY
Current: 13,082 (fut: 13,216);
Target: 12,950 (fut: 13,050)
The financial index is likely to trade between 13,000 and 13,250 today. Keep a stop at 13,275 and go short. Add to the position between 13,150 and 13,170. Book profits below 13,050. (All futures prices above).

AUROBINDO PHARMA
Current price: Rs 589;
Target price: Rs 610
Keep a stop at Rs 580 and go long. Add to the position between Rs 595 and Rs 600. Book profits above Rs 610.

BHEL
Current price: Rs 186;
Target price: Rs 178
Keep a stop at Rs 190 and go short. Add to the position between Rs 182 and Rs 184. Book profits below Rs 178.

HINDALCO
Current price: Rs 141;
Target price: Rs 136
Keep a stop at Rs 144 and go short. Add to the position between Rs 138 and Rs 139. Book profits below Rs 136.

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