Today's Picks: January 6, 2017

Nifty, Bank Nifty, TechM, Tata Motors, Tata Power

Nifty 

Current: 8,274 (fut: 8,288), Target: NA

Stop-loss long positions at 8,220. Stop-short positions at 8,355. Big moves could go till 8,400, 8,150,  Index is testing key resistance between 8,275 and 8,300. A long 8,400c (49), short 8,500c (23) could gain 15-20 if the futures hits 8,350.

Bank Nifty 

Current: 18,116  (fut: 18,144) Target: NA

Stop-loss short positions at 18,255. Stop-long positions at 18,025, Big moves could go till 18,500, 17,700. Index has key resistance between 18,200 and 18,250.

TechM

Current price: Rs 488 

Target price: NA 

Keep a stop at Rs 492 and go short. Add to the position between Rs 482 and Rs 484. Book profits at Rs 480. 

Tata Motors 

Current price: Rs 502

Target price: Rs 492

Keep a stop at Rs 507 and go short. Add to the position between Rs 493 and Rs 495. Book profits at Rs 492.

Tata Power   

Current price: Rs 77 

Target price: Rs 79

Keep a stop at Rs 76 and go long. Add to the position between Rs 78 and Rs 78.5. Book profits at Rs 79.