Today's picks: Tata Motors to Coal India, hot stocks to watch on Tuesday

For IndusInd Bank keep a stop at 330 and go long

Nifty 

Current: 7610 (Fut 7,580) 

Target: NA

Stop long positions at 7,450. Stop short positions at 7,750. Big moves could go till 8,000, 7250. Be prepared for extreme volatility. A long 7,900c (200), short 8,000c (160) could gain 60 if there’s one short-covering session that pushes the index above 8,000 by settlement.

Bank Nifty 

Current  17,018 (fut: 16,960) 

Target: NA

Stop long positions at 16,775. Stop short positions at 17,200.  Big moves could go till 17,500, 16,500. Be prepared for extreme volatility. Short-covering could pull the index up till 18,000. A long 17500c (710), short 18,000c (480) could have a payoff of 270 for a cost