Today's picks

New Delhi : NIFTY Current: 5,517 (Aug: 5,528) Target: NA The index continues to range-trade. Today it could fall till support at 5,450-5,475 or rise till resistance at 5,575. Breakouts beyond could go till 5,400 or 5,625. A short August future with a stop loss at 5,575 would exploit downturns. It may be combined to a long 5,700c (33) and short 5,800c (15) with a net cost of 18. The bullspread will gain around 10-15 if the index rises to 5,575. On the downside, it would reduce profits by around 5-10 if the index fell to 5,475.