Today's picks

Nifty, ITC, HDFC Bank, Educomp & Gail

NIFTY
Current: 5,104 (futures: 5,114);
Target: NA
The index could swing between 5,025 and 5,175. A long 5,200c (25) and long 5,000p (25) is worth holding till Friday. If either end is struck on a big move, the strangle will gain about 20-25. The position is zero-delta.

ITC
Current price: Rs 249;
Target price: Rs 260
The stock is testing resistance near its 52-week high of Rs 250-252. A move past Rs 252 would set up a target of Rs 260. Keep a stop at Rs 243 and go long. Add to the position between Rs 253 and Rs 255. Book profits above Rs 260.

HDFC BANK
Current price: Rs 536;
Target price: Rs 510
The stock is likely to test support at Rs 525-530 again and if that is broken, it could fall till Rs 505-510. Keep a stop at Rs 542 and short. Add to the position between Rs 520 and Rs 525. Book profits at Rs 510.

EDUCOMP
Current price: Rs 137;
Target price: Rs 149
The stock is bouncing off a 52-week low at Rs 128. It could see a potential pullback till Rs 149-152. Keep a stop at Rs 132 and go long. Add to the position between Rs 141 and Rs 144. Book profits above Rs 149.

GAIL
Current price: Rs 336;
Target price: Rs 344
The stock could test resistance at the Rs 342-345 level and it could move till Rs 350. Keep a stop at Rs 328 and go long. Add to the position between Rs 337 and Rs 340. Book profits or partial profits above Rs 344.

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