Today's picks: 24 August 2016

Nifty, Bank Nifty, Infosys, Larsen & Toubro & Aurobindo Pharma

NIFTY
Current: 8,632 (fut: 8,655),
Target: NA
Stop-long positions at 8,590, Stop-short positions at 8,720. Big moves could go till 8,770, 8,630. A long 8,700c (20), long 8,600p (20) would work if the index moves outside 8,740, 8,560 within the next two sessions.

BANK NIFTY
Current: 19,341 (fut: 19,394)
Target: NA
Stop-loss long positions at 19,300. Stop-short positions at 195,00. Big moves could go till 19,050, 19,700. Trend could be positive.

INFOSYS
Current price: Rs 1,040
Target price: Rs 1,060
Keep a stop at Rs 1,030 and go long. Add to the position between Rs 1,050 and Rs 1,055. Book profits at Rs 1,060.

LARSEN & TOUBRO
Current price: Rs 1,478
Target price: Rs 1,450
Keep a stop at Rs 1,495 and go short. Add to the position between Rs 1,455 and Rs 1,460. Book profits at Rs 1,450.

AUROBINDO PHARMA
Current price: Rs 737
Target price: Rs 725
Keep a stop at Rs 745 and go short. Add to the position between Rs 728 and Rs 730. Book profits at Rs 725.

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