Today's picks- 8 June 2015

Nifty, Bank Nifty, Cairn, Tata Steel & Hindalco

NIFTY
Current: 8,043 (fut: 8,044)
Target: NA
Stop loss short positions at 8,135. Stop long positions at 7,965. A long 7,900p (75), short 7,800p (48) could gain 10-15 if the futures drops below 7,950.

BANK NIFTY
Current: 17,407 (futures: 17,400)
Target: 17,200 (futures: 17,225)
Keep a stop at 17,505 and go short. Add to the position between 17,250-17,275. Book profits at 17,225.

CAIRN
Current: Rs 181
Target: Rs 177
Keep a stop at 184 and go short. Add to the position between 179-180. Book profits at 177. 

TATA STEEL
Current: Rs 302
Target: Rs 295
Keep a stop at 306 and go short. Add to the position between 299-300. Book profits at 295.

HINDALCO
Current: Rs 118
Target: Rs 115
Keep a stop at 120 and go short. Add to the position between 116-117. Book profits at 115.

Target prices, projected movements in terms of next session, unless otherwise stated