Today's Picks: December 7, 2016

Nifty, Bank Nifty, Bharti Infratel, HDFC, ONGC

Nifty
      

Current: 8,143  (futures: 8,165) Target: NA

Stop-long positions at 8,100. Stop-short positions at 8,230. Big moves could go till 8,300,8,025. Sentiment is focussed on a possible rate cut. A long 8,000p (70), 7,900p (49) could double if there is no rate cut, or if there is profit booking on a cut.  

Bank Nifty       

Current: 18,421  (futures: 18,479) Target: NA  

Stop-long positions at 18,350. Stop-short positions at 18,600. Big moves could go till 18,900, 18,000. Expect higher than usual volatility and bullish sentiment on hopes of a big rate cut.

Bharti Infratel
          

Current price: Rs 382 

Target price: Rs 372

Keep a stop at Rs 385 and go short. Add to the position between Rs 374 and Rs 375. Book profits at Rs 372.

HDFC   

Current: Rs 1,243   

Target: Rs 1,262

Keep a stop at Rs 1,230 and go long. Add to the position between Rs 1,255 and Rs 1,260. book profits at Rs 1,262.   

ONGC         

Current: Rs 299 

Target: Rs 305

Keep a stop at Rs 296 and go long. Add to the position between Rs 303 and Rs 304. Book profits at Rs 305. 
 

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