Today's picks: 28 June 2016

Nifty, Bank Nifty, TCS, Ambuja Cement & PowerGrid

NIFTY

Current: 8,095 (fut: 8,104),
Target: NA
Stop-loss long positions at 8,045. Stop-short positions at 8,165. Big moves could go till 8,225, 7,975. A long 8,200c (22), long 8,000p (29) is expensive, with breakevens at about 7,945, 8,255. But, it could be hit Brexit volatility continues.

BANK NIFTY

Current: 17,514 (fut: 17,492)
Target: NA
Stop-long positions at 17,395. Stop-short positions at 17,600. Big moves could go till 17,850, 17,150. There is a downside bias.

TCS

Current price: Rs 2,495
Target price: Rs 2,540
Keep a stop at Rs 2,470 and go long. Add to the position between Rs 2,520 and Rs 2,530. Book profits at Rs 2,540.

AMBUJA CEMENT

Current price: Rs 254
Target price: Rs 259
Keep a stop at Rs 252 and go long. Add to the position between Rs 257 and Rs 258. Book profits at Rs 259.

POWERGRID

Current price: Rs 154
Target price: Rs 151
Keep a stop at Rs 156 and go short. Add to the position between Rs 152 and Rs 153. Book profits at Rs 151.

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