Today's picks

Nifty, Bank Nifty, Tata Motors, BHEL & DLF

NIFTY
Current: 4,858 (May futures: 4,853)
Target: NA
The bearish trend may be accelerating. Another big session could go till 4,750 or 4,950. Keep stops at 4,900 and 4,800. Hold the bearspread of long 4,900p (114) and short 4,800p (67), it could gain some more.

BANK NIFTY
Current: 9,164 (May futures: 9,111)
Target: 8,850
The financial index could open weaker today. If it drops below support at 9,000-9,050, it could hit 8,800-8,850. Keep a stop at 9,250 and short. Add to the position between 8,975 and 9,025. Book profits below 8,850.

TATA MOTORS
Current price: Rs 269
Target price: Rs 255
If the stock drops below Rs 265, it will fall till the Rs 250-255 range. Keep a stop at Rs 276 and short. Add to the position between Rs 260 and Rs 265. Start booking profits at Rs 255. If it breaks Rs 276, it could bounce till Rs 285.

BHEL
Current price: Rs 209
Target price: Rs 200
The stock has hit a succession of new lows. It could fall till Rs 196-200 in the next dip. Keep a stop at Rs 213 and go short. Add to the position between Rs 203 and Rs 205. Book profits below Rs 200.

DLF
Current price: Rs 182
Target price: Rs 174
The stock is likely to test support at Rs 172-174. Keep a stop at Rs 185 and short. Add to the position between Rs 178 and Rs 180. Book profits below Rs 174.

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