Today's picks

Nifty, Bank Nifty, Tata Steel, M&M & TCS

NIFTY
Current: 5,990 (futures: 6,035);
Target: NA
Stop loss short positions at 6,100 and stop loss long positions at 5,975. Breakouts could go till 6,135 or till 5,925. The bearspread of long 6,000p (75) and short 5,900p (41) has gained. It could gain another 15-20 if the index drops below 5,925. (All futures prices)

BANK NIFTY
Current: 10,523 (fut: 10,618);
Target: 10,300
Keep a stop at 10,700 and short. Add to the position between 10,475 and 10,525. Book profits below 10,300. (All futures prices)

TATA STEEL
Current price: Rs 358;
Target price: Rs 348
Keep a stop at Rs 363 and go short. Add to the position at Rs 352-355. Book profits at Rs 348.

M&M
Current price: Rs 895;
Target price: Rs 912
Keep a stop at Rs 885 and go long. Add to the position between Rs 895 and Rs 905. Book profits above Rs 912

TCS
Current price: Rs 2,049;
Target price: Rs 2,085
Keep a stop at Rs 2,030 and go long. Add to the position at Rs 2,060-2,075. Book profits above Rs 2,085. If Rs 2,030 breaks, the downside could be till Rs 1,990.

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