Today`s picks

Nifty, Tata Motors, Andhra Bank, JP Associates & Hind Unilever

NIFTY
Current: 6,019 (futures: 6,025);
Target: NA
Key support for the index, which looks bearish in the short-term. The session might move between 5,965 or 6,075. Stop-loss shorts at 6,055 and stop-loss long positions at 5,990. A long 6,000p (33) is quite tempting since it could double on a downturn.

TATA MOTORS
Current price: Rs 293.5
Target price: Rs 280
A fall, from Rs 325 to Rs 282 in three sessions, followed by partial recovery. A rise till the Rs 300-305 level is possible but the stock is more likely to head down to Rs 275-280. Keep a stop at Rs 299 and short. Add to the position between Rs 284 and Rs 288. Book profits at Rs 280.

ANDHRA BANK
Current price: Rs 110
Target price: Rs 104
Steep fall could continue today with the price likely to test support at Rs 101-103. Keep a stop at Rs 114 and short. Add to the position between Rs 108 and Rs 109. Book profits below Rs 104.

JP ASSOCIATES
Current price: Rs 83
Target price: Rs 78
The stock has dropped from Rs 102 to Rs 82. It could bounce till Rs 86-87 or drop further, till the Rs 76-77 levels. Keep a stop at Rs 85 and short. Add to the position between Rs 81 and Rs 82. Book profits below Rs 78.

HIND UNILEVER
Current price: Rs 469
Target price: Rs 478
The stock is in a downtrend but it could see a short-term upside on short-covering till Rs 475-480 levels after a fall from Rs 530-535 to a low of Rs 447. Keep a stop at Rs 463 and go long. Add to the position between Rs 471 and Rs 475. Book profits above Rs 478.

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