 "Today's picks: From Wipro to Grasim, hot stocks to watch on Wednesday")
Nifty
Current: 10,869 (fut: 10,902), Target: NA
Stop-long positions at 10,800. Stop-short positions at 11,000. Big moves could go till 11,075, 10,725. Excess volatility likely if Monetary Policy surprises. A long 11,100c (91), long 10,700p (117) can be offset with short 11,200c (59), short 10,600p (91) for a cost of 58. Breakevens at 11,158, 10,642.
Bank Nifty
Current: 26,693 (fut: 26,818)
Target: NA
Stop-long positions at 26,550. Stop-short positions at 27,050. Big moves could go till 27,250, 26,350. Excess volatility likely if Monetary Policy surprises.
Wipro
Current price: Rs 335
Target price: Rs 341
Keep a stop at Rs 332 and go
long. Add to the position between Rs 339 and Rs 340.
Book profits at Rs 341.
Grasim
Current price: Rs 845
Target price: Rs 830
Keep a stop at Rs 855 and go short. Add to the position between Rs 832 and Rs 836.
Book profits at Rs 830.
HDFC
Current price: Rs 1,940
Target price: Rs 1,905
Keep a stop at Rs 1,960 and go short. Add to the position between Rs 1,910 and Rs 1,920. Book profits at Rs 1,905.
Target prices, projected movements in terms of next session, unless otherwise stated
Devangshu Datta
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