DERIVATIVE PICK

• SHRIRAM TRANSPORT FINANCE (CASH – Rs.796): The stock has almost on the verge of breaking out of a bullish pattern in the daily charts. Buying is advised above Rs.805 for a target of Rs.818 and Rs.829. Higher targets of Rs.838 and Rs.849 is also possible. Stop Loss of Rs.789 should be kept.

• JP ASSOCIATES (CASH – Rs.92.80): Buying is advised above Rs.93.50 for a target of Rs.96 and Rs.98. Higher targets of Rs.102 and Rs.105 is also possible. Stop loss of Rs.88.75 should be kept. The time frame of the trade would be around 8-10 trading sessions for the higher target.