Today's picks: 7 January 2016

Nifty, Bank Nifty, ACC, Coal India & BPCL

NIFTY
Current: 7,741 (fut: 7,745),
Target: NA
Stop-loss long positions at 7,690. Stop-short positions at 7,805. Big moves could go till 7,645, 7,855. A long 7,700p (102), short 7,600p (70) may gain 10-15 if the index dips to 7,690.

BANK NIFTY
Current: 16,433 (fut: 16,467)
Target: NA
Stop-loss long positions at 16,575. Stop-short positions at 16,350. Big moves could go till 16,150, 16,750. Downtrend may continue with SBI, PNB, Bank of India, Axis Bank and Canara Bank all trading near lows.

ACC
Current price: Rs 1,320
Target price: Rs 1,305
Keep a stop at Rs 1,335 and go short. Add to the position between Rs 1,307 and Rs 1312. Book profits at Rs 1,305.

COAL INDIA
Current price: Rs 328
Target price: Rs 322
Keep a stop at Rs 331 and short. Add to the position between Rs 324 and Rs 325. Book profits at Rs 322.

BPCL
Current price: Rs 912
Target price: Rs 925
Keep a stop at Rs 905 and go long. Add to the position between Rs 918 and Rs 922. Book profits at Rs 925.

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