Today's picks: 5 May 2016

Nifty, Bank Nifty, HDFC, Tata Motors & ONGC

NIFTY

Current: 7,706 (fut: 7,733)

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Target: NA
Stop long positions at 7,670. Stop short positions at 7,805. Big moves could go till 7,850, 7,610. A long 7,600p (72), short 7,500p (49) could gain 10-15 if the futures drops to 7,650.

NIFTY BANK

Current: 16,274 (futures: 16,356)
Target: NA
Stop loss short positions at 16,450. Stop long positions at 16,250. Big moves could go till 16,000, 16,700. Downtrend might continue

HDFC

Current: Rs 1,130
Target: Rs 1,150
Keep a stop at Rs 1,120 and go long. Add to the position between Rs 1,140 and Rs 1,145. Book profits at Rs 1,150

TATA MOTORS

Current: Rs 382
Target: Rs 375
Keep a stop at Rs 386 and go short. Add to the position between Rs 376 and Rs 377. Book profits at Rs 375

ONGC

Current: Rs 211
Target: Rs 206
Keep a stop at Rs 213 and go short. Add to the position between Rs 207 and Rs 208. Book profits at Rs 206.

Target prices, projected movements in terms of next session, unless otherwise stated; Nifty and Nifty Bank prices are for futures, rest for cash segment