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Today's picks: Tata Motors to Coal India, hot stocks to watch on Tuesday

For IndusInd Bank keep a stop at 330 and go long

Devangshu Datta 

stock, market, shares, investment, investors, trading, sensex, growth, technology
Stop long positions at 16,775. Stop short positions at 17,200. Representative Image

Nifty

Current: 7610 (Fut 7,580)

Target: NA

Stop long positions at 7,450. Stop short positions at 7,750. Big moves could go till 8,000, 7250. Be prepared for extreme volatility. A long 7,900c (200), short 8,000c (160) could gain 60 if there’s one short-covering session that pushes the index above 8,000 by settlement.

Current 17,018 (fut: 16,960)

Target: NA

Stop long positions at 16,775. Stop short positions at 17,200. Big moves could go till 17,500, 16,500. Be prepared for extreme volatility. Short-covering could pull the index up till 18,000. A long 17500c (710), short 18,000c (480) could have a payoff of 270 for a cost of 230.

Tata Motors

Current price: Rs 66

Target price: Rs 60

Keep a stop at 69 and go short. Add to the position between 61-62. Book profits at 60.

Current price: Rs 128

Target price: Rs 120

Keep a stop at 132 and go short. Add to the position between 121-122. Book profits at 120.

IndusInd Bank

Current price: Rs 336

Target price: Rs 350

Keep a stop at 330 and go long. Add to the position between 345-348. Book profits at 350.

First Published: Tue, March 24 2020. 01:18 IST
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