Today's picks

NIFTY, LARSEN & TOUBRO, TATA MOTORS & DLF

NIFTY
Current: 5,532 (February futures: 5,551);
Target: NA The index has made an upside breakout. One session targets could be 5,625, or 5,425. Stop-loss shorts at 5,575 and stop-loss long positions at 5,475. The prior recommendation of long 5,300p (6) and long 5,500c (80), and the prior recommendation of long 5,500c (80) and short 5,600c (29) have both gained. Both positions can be held with a stop at 5,475.

LARSEN & TOUBRO
Current price: Rs 1,455;
Target price: Rs 1,485 A big volume expansion drove a breakout. The stock could move till around Rs 1,485-1,500 on the upside, while a phase of profit-booking could pull it back till around Rs 1,420. Keep a stop at Rs 1,435 and go long. Add to the position between Rs 1,465 and Rs 1,475. Book profits above Rs 1,485.

TATA MOTORS
Current price: Rs 288;
Target price: Rs 300 The stock has beaten our earlier target projections of Rs 275 and touched a new (adjusted) high of Rs 292-293. If it exceeds that, the next stop could be between Rs 300 and Rs 305. Keep a stop at Rs 283 and go long. Add to the position between Rs 293 and Rs 296. Book profits above Rs 300.

DLF
Current price: Rs 250;
Target price: Rs 237 A pullback would take the stock back till around Rs 236-238. On the upside, there's probable resistance above Rs 255. Keep a stop at Rs 254 and short. Add to the position between Rs 242 and Rs 246. Book profits below Rs 238.

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