Today’s picks: From Tata Motors to Coal India hot stocks to watch on



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 of 230.


Tata Motors


Current price: Rs 66


Target price: Rs 60


Keep a stop at 69 and go short. Add to the position between 61-62. Book profits at 60.


Coal India


Current price: Rs 128


Target price: Rs 120


Keep a stop at 132 and go short. Add to the position between 121-122. Book profits at 120.


IndusInd Bank


Current price: Rs 336


Target price: Rs 350


Keep a stop at 330 and go long. Add to the position between 345-348. Book profits at 350.

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