Today's picks

Nifty, Bank Nifty, BHEL, Hindalco & Lupin

NIFTY
Current: 6,002 (futures: 6,037);
Target: NA
The index is likely to trend lower. Stop-loss shorts at 6,105 and stop-loss long positions at 5,975. Breakouts or breakdowns could go till 6,150 or 5,875. A bearspread of long 5,900p (55) and short 5,800p (33) could gain 15-20 on a downswing of 75 points. (All futures prices)

BANK NIFTY
Current:10,102 (fut: 10,158)
Target: 9,900 (fut: 9,950)
Keep a stop at 10,230 and go short. Add to the position between 10,050 and 10,075. Book profits at 9,950. A long 10,000p (223) could also be lucrative as the premium could rise 25-30%. (All futures prices)

BHEL
Current: 167;
Target: Rs 161
Keep a stop at Rs 170.5 and go short. Add to the position between Rs 162 and Rs 164. Book profits below Rs 161.

HINDALCO
Current: Rs 103.5;
Target: Rs 98
Keep a stop at Rs 106 and go short. Add to the position between Rs 100 and Rs 101. Book profits below Rs 98.

LUPIN
Current: Rs 922;
Target: Rs 905
Keep a stop at Rs 932 and short. Add to the position between Rs 910 and Rs 920. Book profits at Rs 905.

Target prices and projected movements in terms of next session unless stated otherwise