Today's picks: 22 September 2016
Nifty, Bank Nifty, ITC, Hindalco & Idea Cellular
NIFTY
Current: 8,777 (fut: 8,807)
Target: NA
Stop-long positions at 8,745. Stop-short positions at 8,875. Big moves could go till 8,930, 8,670. A long 8,900c(38) short 9,000c (14) would gain 15-20 if the futures moves past 8,875.
BANK NIFTY
Current: 19,828 (futures: 19,910)
Target: NA
Stop-loss long positions at 19,800. Stop-loss short positions at 20,020. Big moves could go till 19,550, 20,250. Fed policy is crucial to the trend.
ITC
Current price: Rs 254
Target price: Rs 250
Keep a stop at Rs 257 and go short. Add to the position between Rs 251 and Rs 252. Book profits at Rs 250.
HINDALCO
Current: Rs 150
Target: Rs 153
Keep a stop at Rs 148 and go long. Add to the position between Rs 151 and Rs 152. Book profits at Rs 153.
IDEA CELLULAR
Current: Rs 84.5
Target: Rs 86.5
Keep a stop at Rs 83.5 and go long. Add to the position between Rs 85.5 and Rs 86. Book profits at Rs 86.5.
Current: 8,777 (fut: 8,807)
Target: NA
Stop-long positions at 8,745. Stop-short positions at 8,875. Big moves could go till 8,930, 8,670. A long 8,900c(38) short 9,000c (14) would gain 15-20 if the futures moves past 8,875.
BANK NIFTY
Current: 19,828 (futures: 19,910)
Target: NA
Stop-loss long positions at 19,800. Stop-loss short positions at 20,020. Big moves could go till 19,550, 20,250. Fed policy is crucial to the trend.
ITC
Current price: Rs 254
Target price: Rs 250
Keep a stop at Rs 257 and go short. Add to the position between Rs 251 and Rs 252. Book profits at Rs 250.
HINDALCO
Current: Rs 150
Target: Rs 153
Keep a stop at Rs 148 and go long. Add to the position between Rs 151 and Rs 152. Book profits at Rs 153.
IDEA CELLULAR
Current: Rs 84.5
Target: Rs 86.5
Keep a stop at Rs 83.5 and go long. Add to the position between Rs 85.5 and Rs 86. Book profits at Rs 86.5.
Target prices, projected movements in terms of next session, unless otherwise stated