Today's picks

Nifty, Ambuja Cement, Sterlite Inds, Bharti Airtel & BPCL

NIFTY
Current: 5,663 (futures: 5,666);
Target: NA
After two sessions of no movement, a swing on settlement could take the index till either 5,600 or 5,725. A downtrend seems a little more likely but range-trading between 5,625 and 5,675 is most probable. Stop loss shorts at 5,700 and stop loss long positions at 5,600. September 5,700c (10) and 5,600p (4) are cheap but will expire worthless if the index range trades again.

AMBUJA CEMENT
Current price: Rs 202.5;
Target price: Rs 206
The stock hit a new high with a volume expansion. It could move till Rs 206-208 if the trend holds. Keep a stop at Rs 199 and go long. Add to the position between Rs 203 and Rs 205. Book profits above Rs 206.

STERLITE INDS
Current price: Rs 100.75;
Target: Rs 96
If support breaks at Rs 99-100, the stock could fall till Rs 95-96. Keep a stop at Rs 102.5 and go short. Add to the position between Rs 98 and Rs 99. Book profits below Rs 96.

BHARTI AIRTEL
Current price: Rs 265;
Target price: Rs 256
The stock saw a big reaction. If support holds at Rs 262-265, it could bounce till Rs 272-275. If support breaks, it will fall till Rs 255-256. Keep a stop at Rs 269 and short. Add to the position between Rs 260 and Rs 263. Book profits below Rs 256.

BPCL
Current price: Rs 351.85;
Target price: Rs 358
The stock could move till Rs 358-360.Keep a stop at Rs 348 and go long. Add to the position between Rs 354 and Rs 356. Book profits above Rs 358.

 

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