Today's picks: 16 September 2016

Nifty, Bank Nifty, Zee Entertainment, Sun Pharma & BPCL

NIFTY

Current: 8,742 (fut: 8,782)
Target: NA
Stop-loss short positions at 8,855. Stop-long positions at 8,675. Big moves could go till 8,900, 8,650. Key support at 8,700. A long 8,900c (39), short 9,000c(17), could gain 15-20, if the futures hits 8,875.

BANK NIFTY

Current: 19,837 (futures: 19,953)
Target: NA
Stop-long positions at 19,845. Stop-short positions at 20,055. Big moves could go till 19,650, 20,275. Trend looks set for a bounce.

ZEE ENTERTAINMENT

Current price: Rs 530
Target price: Rs 540
Keep a stop at Rs 525 and go long. Add to the position between Rs 536 and Rs 538. book profits at Rs 540.

SUN PHARMA

Current: Rs 786
Target: Rs 800
Keep a stop at Rs 780 and go long. Add to the position between Rs 794 and Rs 796. Book profits at Rs 800.

BPCL

Current: Rs 568
Target: Rs 560
Keep a stop at Rs 573 and go short. Add to the position between Rs 562 and Rs 563. Book profits at Rs 560.

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