Today's picks
Nifty, Bank Nifty, Maruti & PowerGrid
NIFTY
Current: 6,517 (fut: 6,546);
Target: NA
Stop-loss shorts at 6,605. Stop loss long positions at 6,475. Breakouts or breakdowns could go till 6,650 or 6,450. A bearspread of long 6,500p (37) and short 6,400p (22) costs 15 and it could double if the index falls below 6,475. (All futures prices above)
BANK NIFTY
Current: 12,115 (fut: 12,167);
Target: 12,300
Keep a stop at 12,090 and go long. Add to the position at 12,225- 12,250. Book profits at 12,300. If 12,090 is broken, the index could fall till 11,975. (All futures prices above)
MARUTI
Current price: Rs 1,868;
Target price: Rs 1,910
Keep a stop at Rs 1,850 and go long. Add to the position between Rs 1,880 and Rs 1,900. Book profits at Rs 1,910.
POWERGRID
Current price: Rs 101;
Target price: Rs 104
Keep a stop at Rs 99 and go long. Add to the position between Rs 102 and Rs 103. Book profits above Rs 104.
Current: 6,517 (fut: 6,546);
Target: NA
Stop-loss shorts at 6,605. Stop loss long positions at 6,475. Breakouts or breakdowns could go till 6,650 or 6,450. A bearspread of long 6,500p (37) and short 6,400p (22) costs 15 and it could double if the index falls below 6,475. (All futures prices above)
BANK NIFTY
Current: 12,115 (fut: 12,167);
Target: 12,300
Keep a stop at 12,090 and go long. Add to the position at 12,225- 12,250. Book profits at 12,300. If 12,090 is broken, the index could fall till 11,975. (All futures prices above)
MARUTI
Current price: Rs 1,868;
Target price: Rs 1,910
Keep a stop at Rs 1,850 and go long. Add to the position between Rs 1,880 and Rs 1,900. Book profits at Rs 1,910.
POWERGRID
Current price: Rs 101;
Target price: Rs 104
Keep a stop at Rs 99 and go long. Add to the position between Rs 102 and Rs 103. Book profits above Rs 104.
The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated