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Today's picks: 16 August 2017

Nifty, Bank Nifty, Cipla, Tata Steel, Ambuja Cements

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Devangshu Datta
Nifty      
Current:  9,794  (futures: 9,809)
Target: NA
Stop long positions at 9,750. Stop short positions at 9,875. Big moves could go till 9,700, 9,910. A long 9,700p (70), short 9,600p (48) could gain 10-15 if the 9,750 support is tested.
 
Bank Nifty      
Current:  24,115   (futures:   24184)
Target: NA 
Stop long positions at 24050. Stop short positions at 24300. Big moves could go till 24500, 23850.
Support at 24050-24075 is critical and may be tested.  
 
Cipla       
Current: Rs 570
Target: Rs 560
Keep a stop at Rs 575 and go short. Add to the position between Rs 562 and