Today's picks: 16 August 2017
Nifty, Bank Nifty, Cipla, Tata Steel, Ambuja Cements
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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 Rs 564. Book profits at Rs 560.
Tata Steel
Current: Rs 623
Target: Rs 635
Keep a stop at Rs 616 and go long. Add to the position between Rs 630 and Rs 632. Book profits at Rs 635
Ambuja Cements
Current: Rs 265
Target: Rs 260
Keep a stop at Rs 268 and go short. Add to the position between Rs 261 and Rs 262. Book profits at Rs 260.
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 Rs 564. Book profits at Rs 560.
Tata Steel
Current: Rs 623
Target: Rs 635
Keep a stop at Rs 616 and go long. Add to the position between Rs 630 and Rs 632. Book profits at Rs 635
Ambuja Cements
Current: Rs 265
Target: Rs 260
Keep a stop at Rs 268 and go short. Add to the position between Rs 261 and Rs 262. Book profits at Rs 260.
Target prices, projected movements in terms of next session, unless otherwise stated