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

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