Today's Picks: January 12, 2017

Nifty, Bank Nifty, Tata Steel, Bajaj Auto, Hindalco

Nifty 

Current: 8,380  (fut: 8,385), Target: NA

Stop loss long positions at 8,325. Stop short positions at 8,450. Big moves could go till 8,600, 8,350. A long 8,400c (70), short (30) could gain 15-20 if the futures hits 8,450.

Bank Nifty 

Current: 18,830 (fut:18,829), Target: NA

Stop long positions at 18,700. Stop short positions at 18,950. Big moves could go till 18,500, 19,150. Trend seems bullish.

Tata Steel

Current price: Rs 451, Target price: Rs 458 

Keep a stop at Rs 446 and go long. Add to the position between Rs 455 and Rs 457. Book profits at Rs 458.

Bajaj Auto 

Current price: Rs 2,719, Target price: Rs 2,675

Keep a stop at Rs 2,745 and go short. Add to the position between Rs 2,685 and Rs 2,695. Book profits at Rs 2,675.

Hindalco   

Current price: Rs 175, Target price: Rs 179

Keep a stop at Rs 173 and go long. Add to the position between Rs 177 and Rs 178. Book profits at Rs 179.

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