Today's picks

Bharti Airtel, Reliance Industries, Tata Steel, Tata Motors & GMR Infra

BHARTI AIRTEL
Current Price: Rs 382,
Target Price: Rs 392
The stock closed strong and it could reach for a potential target of Rs 392-393 inside the settlement. Keep a stop at Rs 377 and go long. Add to the position between Rs 386 and Rs 388. Book profits above Rs 392. If the Rs 377 stop is broken, the stock could slide till Rs 372. So there is a potential short with a stop-loss at Rs 381.

RELIANCE INDUSTRIES
Current Price: Rs 1,001,
Target Price: Rs 970
The stock has seen heavy selling pressure and it could continue. It has some support between Rs 990 and Rs 1,000 but if that is broken, a drop till Rs 970 is possible. Keep a stop Rs 1,015 and go short. Increase the position between Rs 985 and Rs 990 and reset the stop to Rs 995. Start booking profits at Rs 970.

TATA STEEL
Current Price: Rs 629
Target Price: Rs 600

The stock could be interestingly poised with the potential to move till either Rs 665 or Rs 570 if there’s a breakout by the settlement. The third and most likely possibility is range-trading between Rs 600 and Rs 640. Keep a stop at Rs 640 and go short. Add to the position between Rs 610 and Rs 615. Start booking profits at Rs 600.

TATA MOTORS
Current Price: Rs 1,261,
Target Price: Rs 1,230

If the stock climbs past Rs 1,270, it could have a target of Rs 1,300. If it fails to break resistance at Rs 1,265-1,270, it could fall back till the Rs 1,230 mark. Tentatively keep a stop at Rs 1,270 and short. Add to the position between Rs 1,245 and Rs 1,255 and reset the stop to Rs 1,260.

Book profits at Rs 1,230. If Rs 1,270 is broken, go long with a target of Rs 1,300 and stop-loss at Rs 1,260.

GMR INFRA
Current Price: Rs 38.4,
Target Price: Rs 34.5
The stock is testing a key support at Rs 37. If that is broken, it could drop till around Rs 34.5. Keep a stop at Rs 39.5 and go short. Add to the position between Rs 36 and Rs 37. Start booking profits below Rs 35. If the Rs 39.5 stop-loss is broken, a recovery till Rs 41 is possible.

The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated