Today's picks- 2 January 2015

Nifty, Bank Nifty, HCL Tech, Bharti Airtel & Jindal Steel

NIFTY
Current: 8,797 (fut: 8,859),
Target: NA
Stop-loss shorts at 8,935. Stop-long positions at 8,775. The market could swing till 9,000 or 8,700. A long 8,600p (77), short 8,500p (56) would double if the index futures slid till 8,750

BANK NIFTY
Current: 19,865.9 (fut: 20,087.95)
Target: NA
The index futures could swing between 19,700 and 20,500 depending on RBI policy. Keep stop-losses at 150 points from entry price, or stay out until the policy and trend is known. Axis and HDFC Bank will be outperformers on the upside.

HCL TECH
Current price: Rs 1,891
Target price: Rs 1,925
Keep a stop at Rs 1870 and go long. Add to the position between Rs 1905 and Rs 1,915. Book profits at Rs 1,925.

BHARTI AIRTEL
Current price: Rs 359
Target price: Rs 365
Keep a stop at Rs 355 and go long. Add to the position between Rs 363 and Rs 364. Book profits at Rs 365.

JINDAL STEEL
Current price: Rs 155
Target price: Rs 150
Keep a stop at Rs 158 and short. Add to the position between Rs 151 and Rs 152. Book profits
at Rs 150.

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