Today's picks- 17 May 2016

Nifty, Bank Nifty, Asian Paints, HCL Tech & Bharti Infratel

Image
Devangshu Datta
Last Updated : May 17 2016 | 6:00 AM IST
NIFTY
Current: 7,861 (futures: 7,884)
Target: NA
Stop-long positions at 7,820. Stop-short positions at 7,950. Big moves could go till 8,025, 7,750. A long strangle of long 7,700p (26), long 8,100 (16) could gain 10-15 on a big swing in either direction.

BANK NIFTY
Current: 16,738 (fut: 16,790)
Target: NA
Stop-long positions at 16,610. Stop-short positions at 16,825. Big moves could go till 17,050, 16,400. The Nifty Bank looks extremely volatile with no clear trend.

ASIAN PAINTS
Current price: Rs 953
Target price: Rs 970
Keep a stop at Rs 945 and go long. Add to the position between Rs 962 and Rs 965. Book profits at Rs 970.

HCL TECH
Current price: Rs 719
Target price: Rs 730
Keep a stop at Rs 712 and go long. Add to the position between Rs 726 and Rs 728. Book profits at Rs 730.

BHARTI INFRATEL
Current price: Rs 385
Target price: Rs 395
Keep a stop at Rs 382 and go long. Add to the position between Rs 388 and Rs 390. book profits at Rs 395.
Target prices, projected movements in terms of next session, unless otherwise stated
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: May 17 2016 | 6:00 AM IST

Next Story