Today's picks

Nifty, IDFC, Tata Motors & DLF

NIFTY
Current: 5,281 (Futures: 5,325);
Target: NA
The index looks quite bearish. It could drop till 5,175, or bounce till 5,400 if there's another big swing session. Stop long futures at 5,225 and stop short futures at 5,325. A wide bearspread of long 5,100p (76) and short 5,000p (55) costs 21 and it could double in value if the index does drop.

IDFC
Current price: Rs 131;
Target price: Rs 121
The stock could find support at Rs 129 but if that is broken, it could fall till Rs 121. Keep a stop at Rs 135 and go short. Add to the position between Rs 126 and Rs 129. Start booking profits below Rs 122.

TATA MOTORS
Current price: Rs 260;
Target price: Rs 275
There is support between Rs 255 and Rs 265 and the stock may range-trade that zone. If it drops below Rs 255, it could fall till Rs 235. On the upside, it could bounce till Rs 275-280 if it clears Rs 265. Keep a stop at Rs 255 and go long. Add to the position between Rs 267 and Rs 271. Start booking profits above Rs 275.

DLF
Current price: Rs 215;
Target price: Rs 205
The stock could drop till Rs 203-205 before it finds reliable support. Keep a stop at Rs 220 and short. Add to the position between Rs 210 and Rs 213. Start booking profits around Rs 205. If it crosses Rs 221 on the upside, reverse and go long with a target of Rs 227.

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