Today's picks: 8 April 2016
Nifty, Bank Nifty, Larsen & Toubro, Tata Power & Wipro
NIFTY
Current: 7,546 (futures: 7,566.5)
Target: NA
Stop-loss long positions at 7,510. Stop-short positions at 7,620. Big moves could go till 7,700, 7,430. A long 7,500p (80), short 7,400p (51) could gain 10-15, if 7,500 is struck.
BANK NIFTY
Current: 15,531 (fut: 15,585)
Target: NA
Stop-loss long positions at 15,470. Stop-short positions at 15,700. Big moves could go till 15,900, 15,300. Downtrend might continue.
LARSEN & TOUBRO
Current price: Rs 1,183
Target price: Rs 1,160
Keep a stop at Rs 1,195 and go short. Add to the position between Rs 1,165 and Rs 1,170. Book profits at Rs 1,160.
TATA POWER
Current price: Rs 64
Target price: Rs 62
Keep a stop at Rs 65 and go short. Add to the position between Rs 62.5 and Rs 63. Book profits at Rs 62.
WIPRO
Current price: Rs 551
Target price: Rs 542
Keep a stop at Rs 556 and go short. Add to the position between Rs 544 and Rs 546. Book profits at Rs 542.
Current: 7,546 (futures: 7,566.5)
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Target: NA
Stop-loss long positions at 7,510. Stop-short positions at 7,620. Big moves could go till 7,700, 7,430. A long 7,500p (80), short 7,400p (51) could gain 10-15, if 7,500 is struck.
BANK NIFTY
Current: 15,531 (fut: 15,585)
Target: NA
Stop-loss long positions at 15,470. Stop-short positions at 15,700. Big moves could go till 15,900, 15,300. Downtrend might continue.
LARSEN & TOUBRO
Current price: Rs 1,183
Target price: Rs 1,160
Keep a stop at Rs 1,195 and go short. Add to the position between Rs 1,165 and Rs 1,170. Book profits at Rs 1,160.
TATA POWER
Current price: Rs 64
Target price: Rs 62
Keep a stop at Rs 65 and go short. Add to the position between Rs 62.5 and Rs 63. Book profits at Rs 62.
WIPRO
Current price: Rs 551
Target price: Rs 542
Keep a stop at Rs 556 and go short. Add to the position between Rs 544 and Rs 546. Book profits at Rs 542.
Target prices, projected movements in terms of next session, unless otherwise stated