Today's Picks

Nifty, Bank Nifty, Hindalco, Bharti Airtel & LIC Housing

NIFTY
Current: 5,858 (fut: 5,888);
Target: NA
The mildly bearish trend could accelerate if the Bank Nifty moves down. A swing till 5,775 or 5,925 is possible. A bearspread of long 5,800p (22) and short 5,700p (8) could double on a downtrend.

BANK NIFTY
Current: 12,427 (fut: 12,491);
Target: 12,200 (fut: 12,275)
The index may move till 12,175-12,200 or 12,650-12,700 depending on RBI policy direction. The futures will trade at 70-80 points premium. Keep a stop at 12,575 (futures 12,650) and short. Add to the position between 12,300-12,375 (fut: 12,375-12,450) and book profits below 12,200 (fut:12,275).

HINDALCO
Current: Rs 124;
Target: Rs 129
The stock jumped with high volumes. It has resistance at Rs 126-127. If it passes that, it could run till Rs 129-130. Keep a stop at Rs 122 and go long. Add to the position between Rs 126-127. Book profits above Rs 129. If Rs 122 is broken, a fall till Rs 119-120 is possible.

BHARTI AIRTEL
Current: Rs 300 (fut: 12,385);
Target: Rs 290
A fall till Rs 288-290 is possible. Keep a stop at Rs 307 and go short. Add to the position between Rs 296-299. Book profits at Rs 290. A breakout above Rs 307 could lead to a bounce till Rs 315.

LIC HOUSING
Current: Rs 283;
Target: Rs 275
There's resistance between Rs 284-287. A correction could pull the stock back to Rs 273-275. Keep a stop at Rs 286 and short. Add to the position between Rs 277-280. Book profits at Rs 275. If it moves past Rs 288, the stock could go till Rs 300.

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