Today's picks: 31 May, 2017

Nifty, Bank Nifty, HeroMotoCorp, Infratel, Tata Steel

Nifty       

Current: 9,625   (fut: 9,615) Target: NA

Stop-long positions at 9,545. Stop-short positions at 9,680. Big moves could go till 9,720, 9,495. A long 9,500p (70), short 9,400p (47) could gain 10-15 if the futures drops till 9,550.

Bank Nifty       

Current: 23,307   (futures: 23,250) 

Target: NA  

Stop-long positions at 23,175. Stop-short positions at 23,325. Big moves could go till 23,550, 22,900. Backwardation suggests a bias towards correction.

HeroMotoCorp           

Current price: Rs 3,740 

Target price: Rs 3,810

Keep a stop at Rs 3,700 and go long. Add to the position between Rs 3780 and Rs 3,800. Book profits at Rs 3,810.

Infratel   

Current price: Rs 372   

Target price: Rs 366

Keep a stop at Rs 376 and go short. Add to the position between Rs 368 and Rs 369. Book profits at Rs 366.

Tata Steel        

Current price: Rs 512 

Target price: NA

Keep a stop at Rs 506 and go long. Add to the position between Rs 517 and Rs 518. Book profits at Rs 520. Target prices, projected movements in terms of next session, unless otherwise stated