Today's picks

Nifty, Bank Nifty, Hind Unilever, Tata Steel & Jain Irrigation

NIFTY
Current: 6,715 (futures: 6,764);
Target: NA
The index may swing between 6,725 and 6,800 today or it could have a negative trend. Stop loss long positions at 6,700 and stop loss shorts at 6,830. A break down below 6,700 could mean a drop till 6,625. A bearspread of long 6,700p (204) and short 6,600p (161) could gain another 15-20 if the index hits 6,650.

BANK NIFTY
Current: 12,910 (fut: 13,017);
Target: 12,750 (fut: 12,825)
Keep a stop at 13,075 and go short. Add to the position between 12,875 and 12,900. Book profits at 12,825. (All futures prices)

HIND UNILEVER
Current price: Rs 562;
Target price: Rs 545
Keep a stop at Rs 570 and short. Add to the position between Rs 550 and Rs 555. Book profits below Rs 545.

TATA STEEL
Current price: Rs 405;
Target price: Rs 395
Keep a stop at Rs 411 and short. Add to the position between Rs 397 and Rs 402. Book profits below Rs 395.

JAIN IRRIGATION
Current price: Rs 86;
Target price: Rs 92
Keep a stop at Rs 84 and go long. Add to the position between Rs 89 and Rs 90. Book profits above Rs 92.

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