Today's picks

Nifty, YES Bank, Tata Motors, Cairn

NIFTY
Current: 5,118 (Oct fut: 5,122)
Target: NA
The index continues to see resistance at 5,150 and it has support at 5,075. Long futures can be stop-lossed at 5,075, while short futures should be stop-lossed around 5,175. Breakouts in the next 3-4 sessions could go till 5,225, or till 4,950. A previously recommended long 5,000p (31) and long 5,200c (35) could gain 15-25 if either end is struck.

YES BANK
Current: Rs 289
Target: Rs 301
The stock looks to be on the verge of an upside breakout. Keep a stop at Rs 284 and go long with a three-session timeframe. Add to the position between Rs 292 and Rs 295. Start booking profits above Rs 301. If the Rs 284 stop-loss is broken, the stock could fall till Rs 270 so consider reversing.

TATA MOTORS
Current: Rs 188
Target: Rs 195
The stock has made a strong upwards moves on expanding volumes. It has a short-term (three-session) target of Rs 195-197. Keep a stop at Rs 184 and go long. Add to the position between Rs 191 and Rs 194. Start booking profits above Rs 195.

CAIRN
Current: Rs 299
Target: Rs 320
The stock has jumped on high volumes. It will run into major resistance between Rs 305 and Rs 308, which is the short-term target. If it crosses Rs 309, it could have a target of Rs 320. Keep a stop at Rs 290 and go long. Add to the position between Rs 306 and Rs 310. Start booking profits at above Rs 320.

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