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Today's picks

Source : BUSINESS_STANDARD
Last Updated: Sat, Aug 17, 2013 18:00 hrs

NIFTY
Current: 5,742 (futures: 5,757); Target: NA
The index could swing between 5,675 (stop-loss for long positions) and 5,800 (stop-loss for short positions) in the next session with possible breakouts to 5,650 or 5,825. A bullspread of long 5,800c (55) and short 5,900c (23) costs 32 and it could rise by 15 if the index strikes 5,800.

TATA STEEL
Current price: Rs 250;


Target price: Rs 260
Keep a stop at Rs 246 and go long. Add to the position between Rs 255 and Rs 257. Book profits at Rs 260. A fall below Rs 246 could mean a slide till Rs 240.

YES BANK
Current price: Rs 292;
Target price: Rs 280
Keep a stop at Rs 300 and short. Add to the position between Rs 284 and Rs 287. Book profits below Rs 280. If Rs 300 is broken, the stock could bounce till Rs 309.

M&M
Current price: Rs 873;
Target price: Rs 852
Keep a stop at Rs 882 and short. Add to the position between Rs 860 and Rs 865. Book profits at Rs 852.

NMDC
Current price: Rs 114.75 ;
Target price: Rs 119
Keep a stop at Rs 112 and go long. Add to the position at Rs 115.5-116.50. Book profits above Rs 119. A drop below Rs 111 could mean a slide till Rs 106.


The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated

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