TODAY’S PICKS

Bank Nifty

Current: 24,434 (fut: 24,407)

Target: NA

Stop-short positions at 24,550. Stop-long positions at 24,300. Big moves could go till 24,150, 24,725. However the settlement session is not expected to be volatile, with the bank held within the range of 24,275-24,525.

Tata Motors

Current price: ~331

Target price: ~325

Keep a stop at ~335 and go short. Add to the position between ~326 and ~327. Book profits at ~325.

Nifty

Current: 10,184 (fut: 10,176), Target: NA Stop-short positions at 10,265. Stop-long positions at 10,100. Big moves could go till 10,300, 10,050. A long 10,200c (20), long 10,100p (10) has breakevens at 10,070, 10,230 so consensus expectation is that the index to stay within the range 10,075-10,225.

Indian Oil Corporation

Current price: ~175

Target price: ~171

Keep a stop at ~177 and go short. Add to the position between ~172 and ~173. Book profits at ~171.

Hindalco

Current price: ~219

Target price: ~223

Keep a stop at ~217 and go long. Add to the position between ~221 and ~222. Book profits at ~223.

DEVANGSHU DATTA

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