Today`s picks

Nifty, State Bank of India, Sesa Goa, Cipla & Bajaj Auto

NIFTY
Current: 5,254 (futures: 5,273)
Target: NA
A breakout from the range trading zone of 5,250-5,300 could take the index to 5,200 or 5,350. Stop-loss long positions at 5,220 and stop-loss shorts at 5,300. A wide strangle like long 5,100p (31) and long 5,400c (34) could gain 15-20 on a breakout.

STATE BANK OF INDIA
Current price: Rs 1,851
Target price: Rs 1,890
The stock could move till Rs 1,890-1,910. Keep a stop at Rs 1,835 and go long. Add to the position between Rs 1,865 and Rs 1,880. Book profits above Rs 1,890.

SESA GOA
Current price: Rs 169
Target price: Rs 158
The stock is at a key support. If it moves below Rs 165, it could fall till Rs 155-158. Keep a stop at Rs 173 and go short. Add to the position between Rs 162 and Rs 165. Book profits at Rs 158. A rise above Rs 173 could mean a bounce till Rs 179-180.

CIPLA
Current price: Rs 384.8
Target price: Rs 392
The stock hit a new 52-week high. If momentum is sustained, it could move till Rs 392-395. Keep a stop at Rs 381 and go long. Add to the position between Rs 387-390. Book profits above Rs 392.

BAJAJ AUTO
Current price: Rs 1,662
Target price: Rs 1,695
The stock could test resistance between Rs 1,690 and Rs 1,705. Keep a stop at Rs 1,645 and go long. Add to the position between Rs 1,670 and Rs 1,685. Book profits above Rs 1,695.

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