Today's picks: From Tata Motors to Hindalco, stocks to watch on Wednesday

Nifty

Current: 10,184 (fut: 10,176), Target: NA

Stop-short positions at 10,265. Stop-long positions at 10,100

Big moves could go till 10,300, 10,050. 

A long 10,200c (20), long 10,100p (10) has breakevens at 10,070, 10,230 so consensus expectation is that the index to stay within the range 10,075-10,225

Bank Nifty 

Current: 24,434 (fut: 24,407)

Target: NA

Stop-short positions at 24,550. Stop-long positions at 24,300

Big moves could go till 24,150, 24,725 

However the settlement session is not expected to be volatile, with the bank held within the range of 24,275-24,525

Indian Oil Corporation 

Current price: Rs 175

Target price: Rs 171

Keep a stop at Rs 177 and go short

Add to the position between Rs 172 and Rs 173

Book profits at Rs 171

Tata Motors 

Current price: Rs 331

Target price: Rs 325

Keep a stop at Rs 335 and go short.

Add to the position between Rs 326 and Rs 327

Book profits at Rs 325

Hindalco

  
Current price: Rs 219

Target price: Rs 223

Keep a stop at Rs 217 and go long

Add to the position between Rs 221 and Rs 222

Book profits at Rs 223
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Target prices, projected movements in terms of next session, unless otherwise stated

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