Today's picks- 23 August 2016

Nifty, Bank Nifty, Ambuja Cements, NTPC & Zee Entertainment

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Devangshu Datta
Last Updated : Aug 23 2016 | 6:00 AM IST
Nifty
Current: 8,629 (fut: 8,631),
Target: NA
Stop-loss shorts at 8,700. Stop-loss long positions at 8,560. Big moves could go till 8,500, 8,750. A long 8,500p (13) could double in value if the index falls till 8,550.

Bank Nifty
Current: 19,320 (fut: 19,297)
Target: NA
Stop-loss short positions at 19,400. Stop-loss long positions at 19,200. Big moves could go till 19,600, 19,000. Downtrend seems a little more likely.

Ambuja Cements
Current price: Rs 271
Target price: Rs 265
Keep a stop at Rs 274 and go short. Add to the position between Rs 266 and Rs 267. Book profits at Rs 265.

NTPC
Current price: Rs 163
Target price: Rs 159
Keep a stop at Rs 165 and go short. Add to the position between Rs 159.5 and Rs 160. Book profits at Rs 159.

Zee Entertainment
Current price: Rs 510
Target price: Rs 520
Keep a stop at Rs 505 and go long. Add to the position between Rs 516 and Rs 518. Book profits at Rs 520.
Target prices, projected movements in terms of next session, unless otherwise stated
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First Published: Aug 23 2016 | 6:00 AM IST

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