Today's picks: 6 October 2016
Nifty, Bank Nifty, Hindalco, ONGC & Tata Power
Nifty
Current: 8,744 (fut: 8,768)
Target: NA
Stop-loss long positions at 8,690. Stop-short positions at 8,845. Big moves could go till 8,900, 8,640. A long 8,600p (61), short 8,500p (41) could gain 10-15 if the index drops till 8,675.
Current: 19,536 (futures: 19,600)
Target: NA
Stop-loss long positions at 19,490. Stop-short positions at 19,710. Big moves could go till 19,950, 19,250. Trend looks slightly bearish.
Hindalco
Current price: Rs 157
Target price: Rs 160.5
Keep a stop at Rs 155 and go long. Add to the position between Rs 159 and Rs 160. Book profits at Rs 160.5.
ONGC
Current: Rs 266
Target: Rs 262
Keep a stop at Rs 268 and go short. Add to the position between Rs 263 and Rs 264. Book profits at Rs 262.
Tata Power
Current: Rs 78.3
Target: Rs 76
Keep a stop at Rs 79.5 and go short. Add to the position between Rs 76.5 and Rs 77. Book profits at Rs 76.
Target prices, projected movements in terms of next session, unless otherwise stated
Current: 8,744 (fut: 8,768)
Target: NA
Stop-loss long positions at 8,690. Stop-short positions at 8,845. Big moves could go till 8,900, 8,640. A long 8,600p (61), short 8,500p (41) could gain 10-15 if the index drops till 8,675.
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Bank Nifty
Current: 19,536 (futures: 19,600)
Target: NA
Stop-loss long positions at 19,490. Stop-short positions at 19,710. Big moves could go till 19,950, 19,250. Trend looks slightly bearish.
Hindalco
Current price: Rs 157
Target price: Rs 160.5
Keep a stop at Rs 155 and go long. Add to the position between Rs 159 and Rs 160. Book profits at Rs 160.5.
ONGC
Current: Rs 266
Target: Rs 262
Keep a stop at Rs 268 and go short. Add to the position between Rs 263 and Rs 264. Book profits at Rs 262.
Tata Power
Current: Rs 78.3
Target: Rs 76
Keep a stop at Rs 79.5 and go short. Add to the position between Rs 76.5 and Rs 77. Book profits at Rs 76.
Target prices, projected movements in terms of next session, unless otherwise stated