Today's picks- 6 May 2015

Nifty, Bank Nifty, Bhel, L&T & ONGC

NIFTY
Current: 8,097 (fut: 8,122)
Target: NA
Stop loss shorts at 8,205. Stop long positions at 8,045. A long 7,900p (75), short 7,800p (53) will gain 10-15 if the 8,000 support is tested.

BANK NIFTY
Current: 17,779 (futures: 17,825)
Target: NA
Resistance at 18.000. Support at 17,500. Bias is negative. Opening may be low. Keep stop-losses at 150 points from entry. A long 17,500p (323), short 17,000p (173) costs 160.

BHEL
Current price: Rs 230
Target price: Rs 224
Keep a stop at Rs 233 and go short. Add to the position between Rs 225-226. Book profits at Rs 224.

L&T
Current price: Rs 1,565
Target price: Rs 1,535
Keep a stop at Rs 1,585 and go short. Add to the position between Rs 1,540-1,545. Book profits at Rs 1,535.

ONGC
Current price: Rs 328
Target price: Rs 322
Keep a stop at Rs 332 and go short. Add to the position between Rs 324-325. Book profits at Rs 322.

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