Today's picks- 7 May 2015

Nifty, Bank Nifty, HCL Tech, Cairn India & Tata Motors

Image
Devangshu Datta
Last Updated : May 07 2015 | 10:48 PM IST
NIFTY
Current: 8,057 (fut: 8,075)
Target: NA
Stop-loss long positions at 7,990. Stop- short positions at 8,155. A move beyond those limits could go to 7,925, 8,225. A long 7,500p (20), long 8,500c (20) can be held with a 10-session perspective.

BANK NIFTY
Current: 17,335 (fut: 17,384)
Target: NA
Support at 17,250 will be tested. If it breaks, the financial index could slide till 17,000. If it holds, a bounce till 17,500 may come on short covering. A long 17,000p (300), short 16,500p (152) could gain 50-75 if 17,000 is hit.

HCL TECH
Current price: Rs 921
Target price: Rs 940
Keep a stop at Rs 910 and go long. Add to the position between Rs 930 and Rs 935. Book profits at Rs 940.

CAIRN INDIA
Current price: Rs 205
Target price: Rs 201
Keep a stop at Rs 208 and short Add to the position between Rs 202 and Rs 203. Book profits at Rs 200.

TATA MOTORS
Current price: Rs 488
Target price: Rs 480
Keep a stop at Rs 493 and go short. Add to the position between Rs 481 and Rs 483.  Book profits at Rs 480.
Target prices, projected movements in terms of next session, unless otherwise stated
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: May 07 2015 | 10:30 PM IST

Next Story