Today's picks: 30 September 2016

Nifty, Bank Nifty, Tata Motors, Tech Mahindra & ONGC

NIFTY
Current: 8,591 (fut: 8,644),
Target: NA
Stop-loss long positions at 8,570. Stop-short positions at 8,730. Downtrend broke important support today, and the downside target could be 8,400-8,450. A long 8,500p (106) short 8,400p (81) could gain 15-20 if 8,500 is struck.

BANK NIFTY
Current: 19,183 (fut: 19,360)
Target: NA
Stop-loss long positions at 19,250. Stop-loss short positions at 19,470. Big moves could go till 19,000, 19,700. Downtrend likely to continue with key support broken.

TATA MOTORS
Current price: Rs 526
Target price: Rs 518
Keep a stop at Rs 531 and go long. Add to the position between Rs 519 and Rs 521. Book profits at Rs 518.

TECH MAHINDRA
Current price: Rs 427
Target price: Rs 418
Keep a stop at Rs 431 and go short. Add to the position between Rs 419 and Rs 420. Book profits at Rs 418.

ONGC
Current price: Rs 250
Target price: Rs 255
Keep a stop at Rs 247 and go long. Add to the position between Rs 253 and Rs 254. Book profits at Rs 255.

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