Today's picks: 3 February 2016

Nifty, Bank Nifty, Idea Celluar, Tata Steel & Hind Unilever

NIFTY

Current: 7,455 (fut: 7,462)
Target: NA
Stop loss short positions at 7,530. Stop short positions at 7,390. Big moves could go till 7,580, 7,330. A long 7,400p (99), short 7,300p (67) costs 32. It could gain another 10-15 if 7,400 is hit.

BANK NIFTY

Current: 15,068 (futures: 15,078)
Target: NA
Stop loss long positions at 14,970. Stop short positions at 15,180. Big moves could go till 14,770, 15,350. Downtrend may continue.

IDEA CELLULAR

Current: Rs 104
Target: Rs 101.5
Keep a stop at 105 and go long. Add to the position between 102.5-103. Book profits at 101.5.

TATA STEEL

Current: Rs 231
Target: Rs 225
Keep a stop at 234 and go short. Add to the position between 226-227. Book profits at 225.

HIND UNILEVER

Current: Rs 800
Target: Rs 812
Keep a stop at 792 and go long. Add to the position between 808-810. Book profits at 812

Target prices, projected movements in terms of next session, unless otherwise stated; Nifty and Nifty Bank prices are for futures, rest for cash segment