Today's picks

Nifty, Tata Motors, DLF, Bank of Baroda & JP Associates

NIFTY
Current: 5,673 (futures: 5,684)
Target: NA
The index may have gone bearish. Today's session could see moves till 5,625 or 5,725 with breakouts going till either 5,600 or 5,745. Stop-loss shorts at 5,725 and stop-loss long positions at 5,645. A bearspread of long 5,600p (48) and short 5,500p (25) could gain 15 if the index drops 50 points.

TATA MOTORS
Current price: Rs 257
Target price: Rs 248
The stock is in a steady downtrend. No clear target. Short with a stop-loss at Rs 263 and an initial target of Rs 245-247. Add to the position between Rs 252 and Rs 255. Book profits below Rs 248 or book partial profits and hold with a stop-loss of Rs 254 and a new target of Rs 240.

DLF
Current price: Rs 245
Target price: Rs 238
The stock could react till Rs 236-238 before it finds support. Keep a stop at Rs 249 and go short. Add to the position between Rs 241 and Rs 243. Book profits below Rs 238. If Rs 249 is broken, a bounce till Rs 256 is possible.

BANK OF BARODA
Current price: Rs 672
Target price: Rs 650
A huge fall on massive volumes. The stock could bounce till Rs 685. Short with an initial target of Rs 645-650. Keep a stop at Rs 680 and short. Add to the position between Rs 660 and Rs 667. Book profits at Rs 650 or book partial profits and hold with a stop-loss of Rs 660 and a new target of Rs 638.

JP ASSOCIATES
Current price: Rs 68.25
Target price: Rs 64
A correction till Rs 63-64 is possible. Keep a stop at Rs 70 and go short. Add to the position between Rs 66 and Rs 67.25. Book profits below Rs 64.

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