Today`s picks

Nifty, Bank Nifty, ITC & Bharti Airtel

NIFTY
Current: 5,691 (futures: 5,698)
Target: NA
A swing between 5,625 and 5,775 is possible but the index is more likely to range trade 5,675-5,725. Stop-loss shorts at 5,725 and stop-loss long positions at 5,665. A long straddle of long Oct 5,700c (23) and long 5,700p (23) works only if the index moves outside 5,654 and 5,744.

BANK NIFTY
Current: 11,578 (futures: 11,589)
Target: 11,425
A swing between 11,400 and 11,675 is possible. There is a slight negative bias. Keep a stop at 11,650 and short. Add to the position between 11,475 and 11,525. Book profits below 11,425.

ITC
Current price: Rs 290
Target price: Rs 295
Profit booking in the past two sessions has pushed the stock down from Rs 299. It has good support at Rs 288 and it could bounce back till Rs 295-296. Keep a stop at Rs 288 and go long. Add to the position between Rs 292 and Rs 294. Book profits above Rs 295.

BHARTI AIRTEL
Current price: Rs 271
Target price: Rs 277
The stock may be consolidating at current levels. Keep a stop at Rs 269 and go long with a target of Rs 277-280. Add to the position between Rs 274 and Rs 276. Book profits above Rs 277.

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