Today's picks: 18 August 2017
Nifty, Bank Nifty, Coal India, Cipla, Tata Steel
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Last Updated : Aug 18 2017 | 6:00 AM IST
Nifty
Current: 9,904 (fut: 9,914), Target: NA
Stop-long positions at 9,850. Stop-short positions at 9,975. Big moves could go till 10,025, 9,775. A long 10,000c (46), long 9,800p (53) may be offset with short 9,700p (33), 10,100c (21). This strangle combo costs 44. Breakevens at 10,044, 9,756. It will profits if the Nifty moves 2 per cent in either direction.
Bank Nifty
Current: 24,237 (fut: 24,295) Target: NA
Stop-long positions at 24,175. Stop-short positions at 24,405. Big moves could go till 24,600, 24,000. Trend slightly biased towards correction.
Coal India
Current price: Rs 247, Target price: Rs 242
Keep a stop at Rs 250 and go short. Add to the position between Rs 243 and Rs 244. Book profits at Rs 242.
Cipla
Current price: Rs 573, Target price: Rs 563
Keep a stop at Rs 579 and go short. Add to the position between Rs 565 and Rs 568. Book profits at Rs 563.
Tata Steel
Current price: Rs 625, Target price: Rs 635
Keep a stop at Rs 619 and go long. Add to the position between Rs 632 and Rs 634. Book profits at Rs 635.
Target prices, projected movements in terms of next session, unless otherwise stated