Today's picks

Nifty, Bank Nifty, M&M, Coal India & Bhel

NIFTY
Current: 6,164 (futures: 6,177);
Target: NA
Use 6,120 as a stop-loss for long positions and 6,265 as a stop for shorts. Breakouts could go till 6,325 or 6,025. A straddle of long 6,300c (18) and long 6,000p (14) could double despite expiry issues, if there's a big move in either direction.

BANK NIFTY
Current: 10,902; (futures: 10,910)
Target: 10,700
Keep a stop at 11,005 and short. Add to the position between 10,825 and 10,850. Book profits below 10,700.

M&M
Current: Rs 889;
Target: Rs 860
Keep a stop at Rs 895 and short. Add to the position between Rs 870 and Rs 880. Book profits below Rs 860.

COAL INDIA
Current: Rs 279;
Target: Rs 290
Keep a stop at Rs 276 and go long. Add to the position between Rs 281 and Rs 284. Book profits above Rs 290.

Bhel
Current: Rs 140;
Target: Rs 135
Keep a stop at Rs 143 and short. Add to the position between Rs 137 and Rs 139. Book profits below Rs 135.

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