Business Standard

Today's stock picks

Nifty, Hindalco, Bank Nifty, ONGC & JP Associates

Related News

NIFTY
Current: 5,195 (March futures: 5,199);
Target: NA
The looks bearish. A big swing on settlement could push the index down till 5,075, or up till 5,300. Stop-loss shorts at 5,250 and stop-loss long positions at 5,150. A March strangle of long 5,300c (4) and long 5,100p (4) is cheap and could have a big payoff if there's an early move.

HINDALCO
Current price: Rs 126;
Target price: Rs 121
If the six-session downtrend continues into settlement, the stock could fall till Rs 119-121. A rebound could move till Rs 131. Keep a stop at Rs 129 and short. Add to the position between Rs 123 and Rs 125. Start booking profits below Rs 121.

BANK NIFTY
Current: 9,960 (March futures: 9,965);
Target: 9,750
The financial index is likely to test support around 9,900 and if that is broken, it could fall till 9,750. Keep a stop at 10,075 and go short.

Add to the position between 9,850 and 9,900. Start booking profits below 9,750. If 10,075 is broken, the index could rebound till 10,200.

ONGC
Current price: Rs 258;
Target price: Rs 245
The stock is testing key support between Rs 253 and Rs 256. It could fall till Rs 243-245 if the support is broken. Keep a stop at Rs 263 and short. Add to the position between Rs 250 and Rs 253. Start booking profits below Rs 245.

JP ASSOCIATES
Current price: Rs 77;
Target price: Rs 73
The stock started a reaction from Rs 81 and it could test support at Rs 72-73. On the upside, a reversal to Rs 81-82 is possible. Keep a stop at Rs 79 and short. Add to the position between Rs 74.5 and Rs 76. Book profits below Rs 73.


The target price and projected movements given above are in terms of the next one trading session, unless otherwise stated

Read more on:   
|
|
|
|

Read More

Flexible gains

ICICI Prudential Dynamic Plan is a flexi-cap opportunity fund launched in November 2002. The fund has been ranked in the top 30 percentile, that is, ...

Quick Links

 

Market News

Markets close at record highs on Euro zone stimulus talk

The BSE Sensex and Nifty rose on Wednesday to record closing highs, as expectations of further monetary stimulus in the Euro zone raised hopes ...

Volatility Index at 2-year low

The India VIX index, Dalal Street's fear gauge, closed at a two-year low on Wednesday at 13.06, the lowest since October 22, 2012. A low reading ...

India to turn big importer of iron ore in FY15

Steel industry forced to increase shipments due to declining domestic production

US recovery sets positive tone for base metals

Most recover from recent lows, trend likely to continue

UP sugar cane allocation meetings next month

Private mills to abstain from meetings like last year

Back to Top