Today's picks

Nifty, Reliance Power, BHEL & Maruti Suzuki

NIFTY
Current: 5,248 (futures: 5,270)
Target: NA
The index could open a little high. A swing session may move till 5,125 or 5,375. Stop-loss long positions at 5,200 and stop shorts at 5,300. A strangle of long 5,400c (46) and long 5,100p (46) is zero-delta and costs 92. It could gain 15-25 on a big swing.

RELIANCE POWER
Current price: Rs 107
Target price: Rs 114
The stock has resistance at Rs 108-109. If it crosses that, it could reach Rs 115-116. Keep a stop at Rs 104 and go long. Add to the position between Rs 109 and Rs 111. Book profits above Rs 114.

BHEL
Current price: Rs 225
Target price: Rs 214
The stock has hit successive 52-week lows. It could have a downside till Rs 212-214. Keep a stop at Rs 229 and go short. Add to the position between Rs 219 and Rs 222. Book profits below Rs 214.

MARUTI SUZUKI
Current price: 1,372
Target price: Rs 1,345
The stock is in a sharp downtrend. It could fall till around the Rs 1,335-1,345 levels or lower, till Rs 1,310-1,320. Keep a stop at Rs 1,390 and short. Add to the position between Rs 1,350 and Rs 1,365. Book profits below Rs 1,345 or book partial profits with a new target of Rs 1,320.

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