Today's picks

Nifty, Bank of Baroda, IDFC & M&M

NIFTY
Current: 5,913 (futures: 5,934)
Target: NA
Momentum has slowed due to high resistance between 5,900 and 5,950. Support at 5,850. Use 5,975 (futures price) as a stop-loss for shorts and use 5,875 as a stop-loss for long positions. A bullspread of long 6,000c (103) and short 6,100c (62) costs 41. It could gain 12-15 if the index strikes 5,975.

BANK OF BARODA

Current: Rs 521;
Target: Rs 505
Keep a stop at Rs 528 and go short. Add to the position between Rs 515 and Rs 520. Book profits below Rs 505. If the stock crosses Rs 530, go long with an initial stop-loss at Rs 526 and a target of Rs 545.

IDFC
Current: Rs 92.25;
Target: Rs 96
Keep a stop at Rs 91 and go long. Add to the position between Rs 93 and Rs 94. Book profits at Rs 96.

M&M
Current: Rs 827;
Target: Rs 845
Keep a stop at Rs 819 and go long. Add to the position between Rs 830 and Rs 835. Book profits above Rs 845.

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