Today's picks- 9 February 2015

Nifty, Bank Nifty, HCL Tech, Tata Steel & Larsen & Toubro

NIFTY
Current: 8,526 (fut: 8,557),
Target: NA
Downtrend could test support at 8,400. Stop-long positions at 8,475. Stop-shorts at 8,625. If the downtrend continues, the futures could test support at 8,400. A long 8,400p (84), short 8,300p (58) costs 26 and it could gain 15-20 if 8,400 is struck.

BANK NIFTY
Current: 18,404 (fut: 18,475)
Target: 18,200 (fut: 18,275)
Keep a stop at 18,575 and go short. Add to the position between 18,300 and 18,325. Book profits at 18,275.

HCL TECH
Current price: Rs 1,998
Target price: Rs 2,030
Keep a stop at Rs 1,980 and go long. Add to the position between Rs 2010 and Rs 2,020. Book profits at Rs 2,030.

TATA STEEL
Current price: Rs 347
Target price: Rs 341
Keep a stop at Rs 350 and go short. Add to the position between Rs 342 and Rs 343. Book profits at Rs 341.

LARSEN & TOUBRO
Current price: Rs 1,572
Target price: Rs 1,530
Keep a stop at Rs 1,590 and go short. 
Add to the position between Rs 1,535 and Rs 1,545. Book profits at Rs 1,530.

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