Today's picks: 17 August 2017
Nifty, Bank Nifty, PowerGrid, Tech Mahindra, Ambuja Cements
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Last Updated : Aug 17 2017 | 6:00 AM IST
Nifty
Current: 9,897 (fut: 9,907) Target: NA
Stop-long positions at 9,845. Stop-short positions at 9,975. Big moves could go till 10,025, 9,775. A long 10,000c (53), long 9,800p (60) may be offset with short 9,700p (39), 10,100c (26). This strangle combo costs 48. Breakevens at 10,048, 9,752. It profits if the Nifty moves 2 per cent in either direction.
Bank Nifty
Current: 24,437 (futures: 24,495)
Target: NA
Stop-long positions at 24,390. Stop-short positions at 24,605. Big moves could go till 24,800, 24,200. Key resistance at 24,550. Key support at 24,250.
PowerGrid
Current price: Rs 220
Target price: Rs 216
Keep a stop at Rs 222 and go short. Add to the position between Rs 217 and Rs 218.
Book profits at Rs 216.
Tech Mahindra
Current price: Rs 420
Target price: Rs 428
Keep a stop at Rs 415 and go long. Add to the position between Rs 425 and Rs 427. Book profits at Rs 428.
Ambuja Cements
Current price: Rs 270
Target price: Rs 275
Keep a stop at Rs 267 and go long. Add to the position between Rs 273 and Rs 274. Book profits at Rs 275.
Target prices, projected movements in terms of next session, unless otherwise stated