Today`s picks

Nifty,Tata Steel, Union Bank, JP Associates & L&T

NIFTY
Current: 5,719 (Fut: 5,735);
Target: NA
The index hit resistance yesterday above 5,725. A swing session could take it back till 5,650 or up till 5,800. Stop loss long positions at 5,675 and stop loss shorts at 5,750. A long 5,800c (18) would gain around 10-15 if the index moved past the 5,750 level.

TATA STEEL
Current: Rs 412 ;
Target: Rs 421
The stock could move till Rs 421-425 if it crosses resistance at Rs 415. Keep a stop at Rs 408 and go long. Add to the position between Rs 414-417. Book profits above Rs 421. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

UNION BANK
Current: Rs 209.5;
Target: Rs 219
The stock had a huge spurt on high volumes. If it crosses resistance at Rs 213-214, it could run till the Rs 220 levels. Keep a stop at Rs 204 and go long. Add to the position between Rs 213 and Rs 215. Book profits above Rs 219.

JP ASSOCIATES
vCurrent: Rs 95;
Target: Rs 99
The stock may be capable of running up till Rs 99-100 after hitting a new high on good volumes. Keep a stop at Rs 93 and go long. Add to the position between Rs 96 and Rs 97. Book profits above Rs 99.

L&T
Current: Rs 1,652;
Target: Rs 1,680
The stock could test the resistance at its 52-week high today. If it crosses Rs 1,665, it might run up till Rs 1,680-1,695. Keep a stop at Rs 1,635 and go long. Add to the position between Rs 1,660 and Rs 1,670. Book profits above Rs 1,680.

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