Today's picks- 31 August 2016

Nifty, Bank Nifty, Ambuja Cements, PowerGrid & Bajaj Auto

Image
Devangshu Datta
Last Updated : Aug 31 2016 | 6:00 AM IST
NIFTY
Current: 8,744 (fut: 8,803),
Target: NA
Stop-long positions at 8,725. Stop-loss short positions at 8,870. Big moves may be till 8,925, 8,675. Trend is bullish. A butterfly of long 8,800c (114), two short 8,900c (68.5x2) and one long 9,000c (37) costs 14. It could pay a maximum of 86 if the index hits 8,900 with breakevens at 8,814, 8,986.

BANK NIFTY
Current: 19,531 (fut: 19,636)
Target: NA
Stop-loss long positions at 19,505. Stop-loss short positions at 19,750. Big moves could go till 19,950, 19,350. Trend looks strongly bullish.

AMBUJA CEMENTS
Current price: Rs 275
Target price: Rs 280
Keep a stop at Rs 272 and go long. Add to the position between Rs 278 and Rs 279. Book profits at Rs 280.

POWERGRID
Current price: Rs 183
Target price: Rs 180
Keep a stop at Rs 185 and go short. Add to the position between Rs 181 and Rs 182. Book profits at Rs 180.

BAJAJ AUTO
Current price: Rs 2,979
Target price: Rs 2,935
Keep a stop at Rs 3,010 and go short. Add to the position between 2,940 and Rs 2,950. Book profits at Rs 2,935.
Target prices, projected movements in terms of next session, unless otherwise stated
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 31 2016 | 6:00 AM IST

Next Story