Buy Bank Nifty, Sell M&M Today: Sanjeev Bhasin

The Nifty is likely to consolidate on Tuesday amid profit taking in Asian markets. The narrowing of current account deficit to 1.7 per cent of GDP should support the rupee and will attract foreign buying.

For today, the following calls could do well,

Buy Bank Nifty: 16000, stop loss 15700, target 16300

Sell M&M: 1395-1405, stop loss 1430, target 1355

We are also carrying yesterday's calls,

Buy Voltas: 242-246, stop loss 234, target 261

Buy Reliance Industries: 998-1003, stop loss 980, target 1028

Sell BHEL: 239-242, stop loss 247, target 225

Sell BPCL: 690-695, stop loss 708, target 668

Option strategy: Buy Jindal Steel 240 call @ 13-15, stop loss 8, target 28.