Today's picks- 24 December 2015
Nifty, Bank Nifty, Tata Steel, Wipro & ITC
NIFTY
Current: 7,866 (futures: 7,864)
Target: NA
Stop-loss short positions at 7,955. Stop-long positions at 7,835. Big moves could go till 8,020, 7,770. Heavy resistance at 8,950. A long 8,000c (10) will double if the index rises above 7,950.
BANK NIFTY
Current: 16,883 (fut: 16,851)
Target: NA
Stop-short positions at 17,000. Stop-long positions at 16,750. Big moves could go till 17,150, 16,550. Next big resistance is at 17,050.
TATA STEEL
Current price: Rs 264
Target price: Rs 259
Keep a stop at Rs 267 and go short. Add to the position between Rs 260 and Rs 261. Book profits at Rs 259.
WIPRO
Current price: Rs 556
Target price: Rs 565
Keep a stop at Rs 551 and go long. Add to the position between Rs 560 and Rs 563. Book profits at Rs 565.
ITC
Current price: Rs 321
Target price: Rs 316
Keep a stop at Rs 324 and go short. Add to the position between Rs 317 and Rs 318. Book profits at Rs 316.
Current: 7,866 (futures: 7,864)
Target: NA
Stop-loss short positions at 7,955. Stop-long positions at 7,835. Big moves could go till 8,020, 7,770. Heavy resistance at 8,950. A long 8,000c (10) will double if the index rises above 7,950.
BANK NIFTY
Current: 16,883 (fut: 16,851)
Target: NA
Stop-short positions at 17,000. Stop-long positions at 16,750. Big moves could go till 17,150, 16,550. Next big resistance is at 17,050.
TATA STEEL
Current price: Rs 264
Target price: Rs 259
Keep a stop at Rs 267 and go short. Add to the position between Rs 260 and Rs 261. Book profits at Rs 259.
WIPRO
Current price: Rs 556
Target price: Rs 565
Keep a stop at Rs 551 and go long. Add to the position between Rs 560 and Rs 563. Book profits at Rs 565.
ITC
Current price: Rs 321
Target price: Rs 316
Keep a stop at Rs 324 and go short. Add to the position between Rs 317 and Rs 318. Book profits at Rs 316.
Target prices, projected movements in terms of next session, unless otherwise stated