Today's picks- 5 February 2015

Nifty, Bank Nifty, Wipro, Jindal Steel & Tata Steel

NIFTY
Current: 8,712 (fut: 8,739)
Target: NA
Downtrend could test 8,675. Stop long positions at 8,675. Stop shorts at 8,825. A long 8,600p (99), short 8,500p (71) could gain 15-20 if the futures tests support at 8,675.

BANK NIFTY
Current: 19,038 (futures: 19,150)
Target: 18,850 (futures: 18,925)
Keep a stop at 19,250 and go short. Add to the position between 18,975-19,000. Book profits at 18,925.

WIPRO
Current: Rs 638
Target: Rs 649
Keep a stop at 632 and go long. Add to the position between 644-645. Book profits at 649.

JINDAL STEEL
Current: Rs 146
Target: Rs 142
Keep a stop at 148 and go short. Add to the position between 143-144. Book profits at 142

TATA STEEL
Current: Rs 379
Target: Rs 373
Keep a stop at 383 and go short. Add to the position between 375-376. Book profits at 373.

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