Today's picks

Nifty, Bank Nifty, Tata Steel, Hero Motors & L&T Finance

NIFTY
Current: 6,517 (fut: 6,551)
Target: NA
Stop-loss shorts at 6,600. Stop-loss long positions at 6,475. Breakouts or breakdowns could go till 6,650 or 6,425. A bearspread of long 6,500p (54) and short 6,400p (28) costs 26 and it could double if index falls below 6,450. (All futures prices above).

BANK NIFTY
Current: 12,024 (fut: 12,100)
Target: 11,800 (fut: 11,850)
Keep a stop at 12,225 and go short. Add to the position between 11,925 and 11,950. Book profits below 11,850. (All futures prices above).

TATA STEEL
Current price: Rs 339.6
Target price: Rs 331
Keep a stop at Rs 343 and go short. Add to the position between Rs 334 and Rs 337. Book profits below Rs 331.

HERO MOTORS
Current price: Rs 2,061
Target price: Rs 2,120
Keep a stop at Rs 2,030 and go long. Add to the position between Rs 2,080 and Rs 2,100. Book profits above Rs 2,120.

L&T FINANCE
Current price: Rs 85.25
Target price: Rs 88
Keep a stop at Rs 83 and go long. Add to the position between Rs 86.5 and Rs 87.5. Book profits above Rs 88.

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