Today's picks: 20 May 2015

Nifty, Bank Nifty, HCL Tech, HDFC & Tata Steel

NIFTY

Current: 8,423 (fut: 8,414)
Target: NA
Stop-short positions at 8,500. Stop-long positions at 8,350. A long 8,300p (42), short 8,200p (24) could gain 10-15 if the market fell below 8,325.

BANK NIFTY

Current: 18,555 (futures: 18,513)
Target: 18,725 (futures: 18,725)
Keep a stop at 18,425 and go long. Add to the position between 18,675 and 18,700. Book profits at 18,725.

HCL TECH

Current price: Rs 960  
Target price: Rs 975
Keep a stop at Rs 950 and go long. Add to the position between Rs 970 and Rs 973. Book profits at Rs 975.

HDFC

Current price: Rs 1,270
Target price: Rs 1,290
Keep a stop at Rs 1,265 and go long. Add to the position between Rs 1,282 and Rs 1,286. Book profits at Rs 1,290.

TATA STEEL

Current price: Rs 361
Target price: Rs 354
Keep a stop at Rs 365 and short. Add to the position between Rs 355 and Rs 356. Book profits at Rs 354.

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