Today's picks

Nifty, Bank Nifty, Bharti Airtel, Bhel & GAIL

NIFTY
Current: 5,745 (futures: 5,753)
Target: NA
The index has a bearish trend. If support breaks at current levels, it could drop till 5,670. Upside resistance at 5,790-5,810. Stop-loss shorts at 5,790. Stop-loss long positions at 5,710. A bearspread of long 5,700p (42) and short 5,600p (18) could gain 15-20 if the index strikes 5,700.

BANK NIFTY
Current: 11,508 (fututes: 11,536)
Target: 11,350
The financial index is likely to test support at 11,450 and if that is broken, it could fall till 11,300-11,350 or even lower if an intermediate downtrend develops. Keep a stop at 11,625 and short. Add to the position between 11,400 and 11,430. Book profits or partial profits at 11,350.

BHARTI AIRTEL
Current price: Rs 293
Target price: Rs 284
The stock hit a three-month low at Rs 284 before recovering a little. It could test Rs 284 again and if that breaks, it may fall till Rs 273-275. Keep a stop at Rs 302 and short. Add to the position between Rs 288 and Rs 291. Book partial profits at Rs 284 and hold the rest with a target of Rs 275 and a new stop-loss at Rs 288.

BHEL
Current price: Rs 186
Target price: Rs 176
A new 52-week low at Rs 185. The stock could slide lower with an initial target of Rs 173-175 in the next three sessions. On the upside, it could bounce till Rs 195. Keep a stop at Rs 190 and short. Add to the position between Rs 181 and Rs 184. Book profits below Rs 176.

GAIL
Current price: Rs 323,
Target price: Rs 335
The stock could test resistance at Rs 335-341. Keep a stop at Rs 314 and go long. Add to the position between Rs 326 and Rs 329. Book profits above Rs 335.

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