Today's picks: From M&M to Tata Steel, hot stocks to watch on Thursday

Nifty, Bank Nifty, HPCL, M&M, Tata Steel

Nifty 

Current: 10,570 (fut: 10,568), Target: NA

Stop-long positions at 10,500. Stop-short positions at 10,650. Big moves could go till 10,700, 10,450. A long 10,500p (9), long 10,600c (14) has breakevens at 10,477, 10,623.  

Bank Nifty 

Current: 24,814 (fut: 24,785)

Target: NA

Stop-long positions at 24,675. Stop-short positions at 24,900. Big moves could go till 25,100, 24,450. Trend is down. 

HPCL    

Current price: Rs 298 

Target price: Rs 293

Keep a stop at Rs 301 and go 

short. Add to the position between Rs 294 and Rs 295. 

Book profits at Rs 293.

Mahindra & Mahindra     

Current price: Rs 854 

Target price: Rs 870

Keep a stop at Rs 847 and go 

long. Add to the position between Rs 863 and Rs 666. 

Book profits at Rs 870.

Tata Steel    

Current price: Rs 586

Target price: Rs 578

Keep a stop at Rs 591 and go 

short. Add to the position between Rs 579 and Rs 581. 

Book profits at Rs 578.

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