Today's Picks: December 8, 2016

Nifty, Bank Nifty, Tech Mahindra, Sun Pharma, Idea Cellular

Nifty       

Current: 8,102  (fut: 8,136) Target: NA

Stop-loss long positions at 8,065. Stop-loss short positions 8,205. Big moves could go till 7,980, 8,275. A long 8,000p (71), short 7,900p (49) could gain 10-15 if the futures tests support at 8,050.  

Bank Nifty       

Current: 18,234 (futures: 18,285) Target: NA  

Stop-loss short positions at 18,400. 

Stop- loss long positions at 18,170. Big moves could go till 17,900, 18,600. The trend is likely to go negative. 

Tech Mahindra           

Current price: Rs 455 

Target price: Rs 445

Keep a stop at Rs 460 and go short. Add to the position between Rs 448 and Rs 450. Book profits at Rs 445.

Sun Pharma   

Current: Rs 664   

Target: Rs 652

Keep a stop at Rs 670 and go short. Add to the position between Rs 655 and Rs 658. Book profits at Rs 652.   

Idea Cellular         

Current: Rs 75.5  

Target: Rs 77.5

Keep a stop at Rs 74 and go long. Add to the position between Rs 76.5 and Rs 77. Book profits at Rs 77.5.

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