Today's picks

Nifty, Bank Nifty, Tata Motors, Wipro & Sail

NIFTY
Current: 5,412 (February futures: 5,448);
Target: NA
The index looked bullish with a late surge that suggests a potential target of 5,625. One session expectations are 5,525 or 5325. Stop-loss shorts at 5,475 and stop-loss long positions at 5,350. A long strangle of long 5,200p (18) and long 5,500c (58) costs 76 and this could gain 20-25 on a swing.

BANK NIFTY
Current: 10,507 (Feb futures: 10,588);
Target: 10,725
The futures is trading substantial premium to the spot. The financial index could test resistance between 10,700 and 10,725 today and a breakout past 10,700 may push it till 10,800. Keep a stop at 10,400 and go long. Add to the position between 10,625 and 10,650. Book profits or partial profits at 10,725.

TATA MOTORS
Current price: Rs 257;
Target price: Rs 272
An apparent breakout could carry the stock till Rs 270-275 with a five-session timeframe. Keep a stop at Rs 251 and go long. Add to the position between Rs 259 and Rs 263. Start booking profits above Rs 272.

WIPRO
Current price: Rs 445;
Target price: Rs 460
A big surge on volume expansion could have enough momentum to test resistance at Rs 460. Keep a stop at Rs 438 and go long. Add to the position between Rs 448 and Rs 453. Start booking profits at Rs 460.

SAIL
Current price: Rs 109;
Target price: Rs 114
A breakout past resistance at Rs 109-110 could take the stock to Rs 114-115. Keep a stop at Rs 107 and go long. Add to the position between Rs 110 and Rs 111. Start booking profits above Rs 114.

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