Today's picks: 5 February 2016

Nifty, Bank Nifty, Tata Power, Idea Cellular & HCL Tech

NIFTY
Current: 7,404 (futures: 7,434)
Target: NA

Stop long positions at 7,365. Stop short positions at 7,505. Big moves could go to 7,300, 7,565. Resistance at 7,475-7,500. A long 7,600c (46), short 7,700c (23) could gain 10-15 if the index hits 7550.

BANK NIFTY
Current: 14,869 (futures: 14,968)

Stop long positions at 14,860. Stop short positions at 15,080. Big moves could go till 14,670, 15,250. Trend looks bearish with big resistance at 5,070-5,100.

TATA POWER
Current: Rs 59
Target: Rs 57.5

Keep a stop at Rs 60 and go short. Add to the position between Rs 58-Rs 58.5. Book profits at Rs 57.5.

IDEA CELLULAR
Current: Rs 100
Target: Rs 101.75

Keep a stop at Rs 99 and go long. Add to the position between Rs 101-Rs 101.5. Book profits at Rs 101.75.

HCL TECH
Current: Rs 867
Target: Rs 880

Keep a stop at Rs 860 and go long. Add to the position between Rs 875-Rs 877. Book profits at Rs 880.
Target prices, projected movements in terms of next session, unless otherwise stated; Nifty and Nifty Bank prices are for futures, rest for cash segment