Today's picks: From Tata Steel to Ultratech, hot stocks to watch on Friday

Nifty 

Current: 10,565 (fut: 10,579)

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 10,600c (48), long 10,500p (38) strangle can be laid off with short 10,400p (22), short 10,700c (14) for a net cost of 50, and breakevens of 10,450, 10,650.

Bank Nifty 

Current: 25,126 (fut: 25,175)

Target: NA

Stop-long positions at 25,050. Stop-short positions at 25,300. Big moves could go till 25,550, 25,800. Trend could have negative bias.

Tata Steel 

Current price: Rs 622 

Target price: Rs 632

Keep a stop at Rs 616 and go long. Add to the position between Rs 629 and Rs 631. Book profits at Rs 632.   

Ultratech Cement    

Current price: Rs 4,103 

Target price: Rs 4,030

Keep a stop at Rs 4,145 and go short. Add to the position between Rs 4,045 and Rs 4,055. Book profits at Rs 4,030.

Indian Oil Corporation 

Current price: Rs 158 

Target price: Rs 154.5

Keep a stop at Rs 160 and go short. Add to the position between Rs 155 and Rs 156.  Book profits at Rs 154.5.

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

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