 "Today's picks: From Powergrid to Tata Steel, hot stocks to buy on Thursday")
Nifty
Current: 10793 (fut: 10803)
Target: NA
Stop long positions at 10725. Stop short positions at 10880. Big moves could go till 10925, 10650. Trend seems negative. A long Feb 21 11000c (18), long Feb 21 10600p (22), short 10500p (11.5), short 11100c (8) costs net 20 with breakevens at 10580, 11020.
Bank Nifty
Also Read
Current 26958 (fut: 26885)
Target: NA
Stop long positions at 26750. Stop short positions at 27010. Big moves could go till 26525, 27225. seems negative. Gains in the long option would compensate if short option is struck.
A long Feb 28, 26500p (161) can be offset with a short Feb 21 26500p (83) – net cost 78.
UPL
Current price: Rs 817
Target price: Rs 830
Keep a stop at 809 and go long. Add to the position between 824-828. Book profits at 830.
Powergrid
Current price: Rs 177
Target price: Rs 173
Keep a stop at 179 and go long. Add to the position between 174-175. Book profits at 173.
Tata Steel
Current price: Rs 484
Target price: Rs 476
Keep a stop at 488 and go short. Add to the position between 478-480. Book profits at 476.
Target prices, projected movements in terms ofnext session, unless otherwise stated
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