Today's picks

NIFTY, RELIANCE INDUSTRIES, COAL INDIA, IDFC & STATE BANK OF INDIA

NIFTY
Current: 5,522 (February futures: 5,530);
Target: NA No net movement in the index yesterday. A swing session could mean a move till either 5,625, or 5,425. Stop-loss shorts at 5,575 and long positions at 5,475. The prior recommendations of long 5,500c and 5,600c can be held with a stop at 5,475.

RELIANCE INDUSTRIES
Current price: Rs 811;
Target price: Rs 835 The stock may test the next support at Rs 800-805 tomorrow. On the upside, a bounce could push it up till about Rs 835-840. Keep a stop at Rs 800 and go long. Add to the position between Rs 815 and Rs 825. Start booking profits above Rs 835. If Rs 800 is broken, the stock could fall till Rs 785.

COAL INDIA
Current price: Rs 320;
Target price: Rs 305 The stock reacted sharply and it could slide till it hits support between Rs 300 and Rs 305. Keep a stop at Rs 327 and short. Add to the position between Rs 312 and Rs 316. Start booking profits below Rs 305.

IDFC
Current price: Rs 146;
Target price: Rs 155 The stock continues to look bullish and it's testing resistance at Rs 147-150. It could have a three-session target of Rs 160. Keep a stop at Rs 142 and go long. Add to the position between Rs 150 and Rs 152. Start booking profits above Rs 154 on a day-trade or hold with a three-session target of Rs 160.

STATE BANK OF INDIA
Current price: Rs 2,350;
Target price: Rs 2,400 The stock is likely to test resistance between Rs 2,375 and Rs 2,400 and it could rise till between Rs 2,435 and Rs 2,450 if the resistance breaks. Reactions could push the stock down till around the Rs 2,275 level however. Keep a stop at Rs 2,325 and go long. Add to the position between Rs 2,375 and Rs 2,385. At Rs 2,400, you can either book profits or book partial profits and hold with a target of Rs 2,435.

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