Today's picks

Nifty, Bank Nifty, Hind Unilever, Idea Cellular & Tata Motors

NIFTY
Current: 5,326 (Nov fut: 5,347)
Target: NA
The index is testing resistance between 5,325 and 5,375 and a breakout could push it till 5,450-5,475. On the downside, if support at 5,325 is broken, the index could slide till 5,200. A strangle of long 5,200p (57) and long 5,500c (45) could gain between 15 and 25 on a 100-point swing.

BANK NIFTY
Current: 9,990 (Nov fut: 10,025),
Target: 10,300
The index could test resistance at 10,125-10,150 and a breakout would take it to 10,300. On the downside, if support at 9,850 is broken, it could drop till 9,650. Keep a stop at 9,875 and go long. Add to the position between 10,150 and 10,175. Start booking profits above 10,275.

HIND UNILEVER
Current: Rs 376
Target: Rs 383
The stock has broken out to a new 52-week high. It’s impossible to project a target with accuracy given the new highs but the stock could test Rs 400. Keep a stop at Rs 369 and go long with an initial target of Rs 383. Use a trailing stop-loss and move the stop up five units for every seven-unit gain. If Rs 389 is broken, the next support is Rs 360.

IDEA CELLULAR
Current: Rs 94.5
Target: Rs 99
The stock could test resistance at Rs 99-100 levels. A breakout could go till Rs 103. Keep a stop at Rs 91 and go long. Add to the position between Rs 95 and Rs 97. Start booking profits above Rs 98.

TATA MOTORS
Current: Rs 198.5
Target: Rs 190
The stock could see some further profit booking that pulls it down to test support at Rs 189-190. Keep a stop at Rs 201 and short. Add to the position between Rs 195 and Rs 197. Start booking profits below Rs 190. If the Rs 201 stop is broken, the resistance at Rs 208 will be tested so, consider reversing the position.

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