Today's picks: Nifty, RIL, SBI

Last Updated: Mon, Jan 07, 2013 04:28 hrs

Current: 6,010 (futures: 6,038)
Target: NA
The index looks bullish. Futures are at premium of 30-40 points. Reaction will find support at 5,965-5,975 (futures: 6,000). The next upmove could be till 6,075. Stop-loss shorts at 6,040 (futures: 6,075) and stop-loss long positions at 5,960 (futures: 5,990). Hold a bullspread of long 6,100c (52) and short 6,200c (23), which could double in value if 6,100 is struck.

Current price: Rs 861
Target price: Rs 878
RIL could test resistance near the 52-week high of Rs 881. Keep a stop at Rs 852 and go long. Add to the position between Rs 863 and Rs 868. Book profits or partial profits above Rs 878.

Current price: Rs 2,471
Target price: Rs 2,535
Breakout to new high on good volumes, followed by a correction. Keep a stop at Rs 2,450 and go long. Add to the position between Rs 2,480 and Rs 2,490. Difficult to set a target but Rs 2,535-2,550 should be achievable in three sessions.

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