TODAY'S PICKS

Nifty, SBI & Hindalco

NIFTY
Current: 5,362 (February futures: 5,361);
Target: NA
The index is bullish but hitting resistance at 5,400. One session swing expectations would be 5,225 and 5,475. Stop-loss shorts at 5,400, and stop long positions at 5,300. Book profits in the prior recommendation of long 5,300c (139) and short 5,400c (83) above 5,380. A long 5300p (79) and short 5,200p (50) costs 29 and it could gain 15-25 in value if the Nifty reacts till 5,300.

STATE BANK OF INDIA
Current price: Rs 2,163;
Target price: Rs 2,250
The stock is being bid up by optimists in the week before results. A push till the Rs 2,250 level is possible in the three sessions. Keep a stop at Rs 2,125 and go long. Add to the position between Rs 2,175 and Rs 2,210. Book profits beyond Rs 2,250.

Hindalco
Current price: Rs 155;
Target price: Rs 147
The stock has been unable to break resistance between Rs 158 and Rs 160. It could be due for a reaction till the Rs 147 level in the next three sessions. Keep a stop at Rs 159 and short. Add to the position between Rs 150 and Rs 152. Book profits below Rs 148. If Rs 159 is broken, reverse and go long with an initial target of Rs 164.

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