Today's picks: 17 February 2016
Nifty, Bank Nifty, HDFC, Cipla & Zee Entertainment
NIFTY
Current: 7,048 (fut: 7,050),
Target: NA
Stop-long positions at 6,990. Stop-short positions at 7,110. Big moves could go till 7,175, 6,920. A long 7,000p (70), short 6,900p (42) could gain 10-15 if the futures hits 7,000.
BANK NIFTY
Current: 14,166 (fut: 14,121)
Target: NA
Stop-long positions at 14,000. Stop-short positions at 14250. Big moves could go till 14,400, 13,820. The futures backwardation suggests more losses.
HDFC
Current price: Rs 1,077
Target price: Rs 1,100
Keep a stop at Rs 1,065 and go long. Add to the position between Rs 1,086 and Rs 1,090. Book profits at Rs 1,100.
CIPLA
Current price: Rs 524
Target price: Rs 517
Keep a stop at Rs 530 and go short. Add to the position between Rs 518 and Rs 520. Book profits at Rs 517.
ZEE ENTERTAINMENT
Current price: Rs 363
Target price: Rs 370
Keep a stop at Rs 359 and go long. Add to the position between Rs 367 and Rs 368. Book profits at Rs 370.
Current: 7,048 (fut: 7,050),
Target: NA
Stop-long positions at 6,990. Stop-short positions at 7,110. Big moves could go till 7,175, 6,920. A long 7,000p (70), short 6,900p (42) could gain 10-15 if the futures hits 7,000.
BANK NIFTY
Current: 14,166 (fut: 14,121)
Target: NA
Stop-long positions at 14,000. Stop-short positions at 14250. Big moves could go till 14,400, 13,820. The futures backwardation suggests more losses.
HDFC
Current price: Rs 1,077
Target price: Rs 1,100
Keep a stop at Rs 1,065 and go long. Add to the position between Rs 1,086 and Rs 1,090. Book profits at Rs 1,100.
CIPLA
Current price: Rs 524
Target price: Rs 517
Keep a stop at Rs 530 and go short. Add to the position between Rs 518 and Rs 520. Book profits at Rs 517.
ZEE ENTERTAINMENT
Current price: Rs 363
Target price: Rs 370
Keep a stop at Rs 359 and go long. Add to the position between Rs 367 and Rs 368. Book profits at Rs 370.
Target prices, projected movements in terms of next session, unless otherwise stated