Today's picks: From M&M to Tata Steel, hot stocks to watch on Thursday

Nifty, Bank Nifty, HPCL, M&M, Tata Steel

Nifty 

Current: 10,570 (fut: 10,568), Target: NA

Stop-long positions at 10,500. Stop-short positions at 10,650. Big moves could go till 10,700, 10,450. A long 10,500p (9), long 10,600c (14) has breakevens at 10,477, 10,623.  

Bank Nifty 

Current: 24,814 (fut: 24,785)

Target: NA

Stop-long positions at 24,675. Stop-short positions at 24,900. Big moves could go till 25,100, 24,450. Trend is down. 

HPCL    

Current price: Rs 298 

Target price: Rs 293

Keep a stop at Rs 301 and go 

short. Add to the position between Rs 294 and Rs 295. 

Book profits at Rs 293.

Mahindra & Mahindra     

Current price: Rs 854 

Target price: Rs 870

Keep a stop at Rs 847 and go 

long. Add to the position between Rs 863 and Rs 666. 

Book profits at Rs 870.

Tata Steel    

Current price: Rs 586

Target price: Rs 578

Keep a stop at Rs 591 and go 

short. Add to the position between Rs 579 and Rs 581. 

Book profits at Rs 578.

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