Today's picks

Nifty, BPCL, NTPC, State Bank of India & Maruti Suzuki

NIFTY
Current: 5,959 (futures: 5,971);
Target: NA
No net change, nominal futures premium and low put-call ratio are all bearish factors. But support at 5,950 held. The index could swing down till 5,875 or bounce till 6,020. Stop-loss shorts at 6,030 and stop-loss long positions at 5,910. The bearspread of long 5,900p (47) and short 5,800p (22) remains attractive.

BPCL
Current price: Rs 418;
Target price: Rs 430
The stock corrected down from Rs 449 to support at Rs 405-410 and consolidated. It may be poised to move up again to test resistance at Rs 430-435. Keep a stop at Rs 410 and go long. Add to the position between Rs 422 and Rs 426. Book profits above Rs 430.

NTPC
Current price: Rs 152;
Target price: Rs 147
The stock has seen selling on heavy volume and it could fall till Rs 145-147. Keep a stop at Rs 155 and short. Add to the position between Rs 148 and Rs 150. Book profits below Rs 147.

STATE BANK OF INDIA
Current price: Rs 2,349;
Target price: Rs 2,375
The stock is testing support between Rs 2,325 and Rs 2,350. If that breaks, it could slide till Rs 2,250-2,275. On the upside a bounce till Rs 2,410 is possible. Keep a stop at Rs 2,385 and short. Add to the position between Rs 2,310 and Rs 2,330. Book profits below Rs 2,375.

MARUTI SUZUKI
Current price: Rs 1,628;
Target price: Rs 1,675
The stock hit a new 52-week high at Rs 1,639 and closed slightly lower on profit-booking. The bull-run should continue and a breakout past Rs 1,640 will set up a target of Rs 1,675-1,695. Keep a stop at Rs 1,610 and go long. Add to the position between Rs 1,640 and Rs 1,655. Book profits above Rs 1,675.

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