 "Today's picks: From Hindalco to ITC, hot stocks to watch on Thursday")
Nifty
Current: 11,679 (fut: 11,698)
Target: NA
Stop long positions at 11625. Stop short positions at 11775. Big moves could go till 11825, 11575. Trend remains negative but short-covering could lead to a rally. A long March 5, 11500p (59), short 11400p (40) could gain 10-15 if the index tests 11550.
Bank Nifty
Current: 30,307 (30,377)
Also Read
Target: NA
Stop long positions at 30225. Stop short positions at 30525. Big moves could go till 29950, 30800. Trend remains negative but shortcovering could trigger a rally.
ITC
Current: Rs 199
Target: Rs 203
Keep a stop at 196.5 and go long. Add to the position between 201-202. Book profits at 203.
Hindalco
Current: Rs 170
Target: Rs 166
Keep a stop at 172 and go short. Add to the position between 167-168. Book profits at 166.
L&T
Current: Rs 1,211
Target: Rs 1,190
Keep a stop at 1,222 and go short. Add to the position between 1,197-1,202. Book profits at 1,190.
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