Today's picks- 9 August 2016

Nifty, Bank Nifty, Bharti Airtel, BPCL & PowerGrid

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Devangshu Datta
Last Updated : Aug 09 2016 | 6:00 AM IST
NIFTY
Current: 8711 (futures: 8729)
Target: NA
Stop-loss long positions at 8,655. Stop-short positions at 8,805. Big moves could go till 8,850, 8,605. Some chance of extra volatility if RBI takes action. A long 8,800c (64), short 8,900c (32) could gain 10-15 if the futures hits 8,800.

BANK NIFTY
Current: 18,939 (fut: 18,999)
Target: NA
Stop-loss long positions at 18,855. Stop-short positions at 19,125. Big moves could go till 19,350, 18,650. No surprises expected at RBI policy review which means there would be excess volatility if the central bank took action.

BHARTI AIRTEL
Current price: Rs 351
Target price: Rs 345
Keep a stop at Rs 354 and go short. Add to the position between Rs 346 and Rs 347. Book profits at Rs 345.

BPCL
Current price: Rs 607
Target price: Rs 595
Keep a stop at Rs 610 and go short. Add to the position between Rs 598 and Rs 601. Book profits at Rs 595.

POWERGRID
Current price: Rs 178.5
Target price: Rs 182
Keep a stop at Rs 177 and go long. Add to the position between Rs 180 and Rs 181. Book profits at Rs 182.
Target prices, projected movements in terms of next session, unless otherwise stated
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First Published: Aug 09 2016 | 6:00 AM IST

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