Today's picks

Nifty, Bank Nifty, HCL Tech, Hindalco & Bajaj Auto

NIFTY
Current: 5,910 (futures: 5,965); Target: NA
A bullish trend is visible. Upside could be 6,050-6,100 with resistance at 5,975. Corrections will find support at 5,835-5,850 - breakdowns could go till 5,800. Use 5,975 as a stop for shorts and use 5,850 as a stop for long positions. A bullspread of long 6,100c (89) and short 6,200c (55) is expensive but it could gain 20-25 if the index crosses 6,100. (All futures prices)

BANK NIFTY
Current: 10,223 (fut: 10,305); Target: NA

The index could move till 10,500-10,525 if the bullish trend persists. On the downside, there's support at 10,200 and below at 10,125. Keep a stop loss at 10,225 and go long. Add to the position between 10,350-10,375. Book profits above 10,500. (All futures prices)

HCL TECH
Current price: Rs 1,104.6;
Target price: Rs 1,135
New 52-week high at Rs 1,115-1,116. Keep a stop at Rs 1,090 and go long. Add to the position between Rs 1,110 and Rs 1,120. Book profits above Rs 1,135. If Rs 1,090 is broken, the stock could drop till Rs 1,055.

HINDALCO
Current price: Rs 115.5 ;
Target price: Rs 112.5
Keep a stop at Rs 117 and short. Add to the position between Rs 114 and Rs 115. Book profits below Rs 112.5. If Rs 117 is broken, the target would be Rs 120.

BAJAJ AUTO
Current price: Rs 2,119;

Target price: Rs 2,175
Keep a stop at Rs 2,105 and go long. Add to the position between Rs 2,125 and Rs 2,140. Book profits or partial profits at Rs 2,175.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated