Business Standard

Today's picks: 3 May, 2017

Nifty, Bank Nifty, ONGC, Dr Reddy's, Tata Steel

Devangshu Datta  |  Mumbai 

Nifty 

Current: 9,315 (fut: 9,342), Target: NA

Stop-long positions at 9,270. 

Stop-short positions at 9,410. Big moves could go till 9,450, 9,225.  Along 9,300p (78), short 9,200p (50) could gain 10-15 if the index dips till 9,270.

Bank Nifty 

Current: 22,341 (fut: 22,395)

Target: NA

Stop-long positions at 22,290. Stop-short positions at 22,500. Big moves could go till 22,750, 22,050. A correction looks slightly more likely.  

ONGC

Current price: Rs 192 

Target price: Rs 196 

Keep a stop at Rs 190 and go long. Add to the position between Rs 194 and Rs 195. Book profits at Rs 196.  

Dr Reddy's  

Current price: Rs 2,582

Target price: Rs 2,540

Keep a stop at Rs 2,610 and go short. Add to the position between Rs 2,550 and Rs 2,560. Book profit at Rs 2,540.


Current price: Rs 445 

Target price: Rs 436

Keep a stop at Rs 450 and go short. Add to the position between Rs 439 and Rs 441. Book profits at Rs 436.  


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

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