 "Today's picks: From Airtel to Zee, hot stocks to watch on Thursday")
Nifty
Current: 11,313 (fut: 11,362)
Target: NA
Stop long positions at 11275. Stop short positions at 11430. Big moves could go till 11200, 11500. The 11225-11325 zone is critical. Moves of 2 per cent above or below this zone will establish strong trends. A long Oct 17, 11200p (55), long 11500c (45) can be offset with short 11100p (35), short 11600c (22). This long-short strangle set has breakevens at about 11155, 11545.
Bank Nifty
Current: 28,786 (28,895)
Also Read
Target: NA
Stop long positions at 28500. Stop short positions at 29200. Big moves could go till 28100, 29500. The index is critically poised close to its own 200 Day Moving Average. A upside till 31000 could come if the index pulls above 29500.
Airtel
Current: Rs 359
Target: Rs 365
Keep a stop at 356 and go long. Add to the position between 363-364. Book profits at 365.
Tata Steel
Current: Rs 336
Target: Rs 330
Keep a stop at 339 and go short. Add to the position between 331-332. Book profits at 330.
Zee
Current: Rs 246
Target: Rs 241
Keep a stop at 248 and go short. Add to the position between 242-243. Book profits Hat 241.
Target prices, projected movements in terms of next session, unless otherwise stated
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