Today's picks

Nifty, YES Bank, Educomp, Cairn & Sail

NIFTY
Current: 5,153 (Sep fut: 5,162),
Target: NA
The index is hitting major resistance in a band between 5,175-5,225. If it halts within this range, it will probably reverse direction to test support at 5,050-5,075. If it pushes past 5,225, it could move till 5,350. Stop-loss long futures at 5,075. A previously recommended long 5,200c (95) and short 5,300c (55) cost 40 and could gain around 15-20 if the 5,200 level is touched. Go short only if the index falls below 5,050.

YES BANK
Current: Rs 297
Target: Rs 307
If the uptrend persists, the stock will hit major resistance between Rs 305-310. On the downside, there's reliable support between Rs 280-285. Keep a stop-loss at Rs 291 and go long. Add to the position between Rs 299-302.

Book profits at Rs 307. If Rs 291 is broken expect, a fall till Rs 285.

EDUCOMP
Current: Rs 230
Target: Rs 255
The stock's recovered sharply from recent bottoms in the Rs 190-zone. It could have a 3-session target in the Rs 255-265 region and there's a potential downside till Rs 205. Keep a stop at Rs 215 and go long. Add to the position between Rs 235-240. Start booking profits at above Rs 255. Be prepared for high volatility.

CAIRN
Current: Rs 287
Target: Rs 305
The stock is testing resistance at Rs 290 and if it can cross Rs 291, it could climb till Rs 310. Keep a stop at Rs 282 and go long with a 3-session perspective. Add to the position between Rs 291-293 and reset the stop to Rs 289. Book profits above Rs 305. If Rs 282 is broken, a drop till Rs 270 is possible.

SAIL
Current: Rs 118
Target: Rs 105
The stock's seen heavy selling from Rs 122-123. A pullback till a minimum target of Rs 112 is possible and it could fall till Rs 105-107. Keep a stop at Rs 121 and go short. Add to the position between Rs 116-117. Start booking profits at Rs 112. If you have a five-session perspective, book partial profits and look for a target of Rs 106.

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