Today's picks: 3 June 2015

Nifty, Bank Nifty, Tata Power, ONGC & NMDC

Nifty
Current: 8,135 (fut: 8,150)
Target: NA
Stop loss long-positions at 8,075. Stop short-positions at 8,210. A long 7,900p (54), short 7,800p (35) costs 19 . This bearspread is distant.

Bank Nifty
Current: 17,721 (fut: 17,785)
Target: 17,500 (fut: 17,550)
Keep a stop at 17,900 and go short. Add to the position between 17,575-17,650. Book profits at 17,550.

TATA POWER
Current price: Rs 71  
Target price: Rs 68
Keep a stop at Rs 72.25 and go short. Add to the position between Rs 68.5-69. Book profits at Rs 68

ONGC
Current price: Rs 308
Target price: Rs 302
Keep a stop at Rs 312 and go short. Add to the position between Rs 303-305. Book profits at Rs 302.

NMDC
Current price: Rs 123
Target price: Rs 120
Keep a stop at 124.5 and go short. Add to the position between 121-122. Book profits at 120.

---

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