Today's Picks: 18 October, 2017

Nifty, Bank Nifty, Axis Bank, BPCL, Infosys

Nifty

 

Current: 10,234 (fut: 10,256), Target: NA

Stop-long positions at 10,175. Stop-short positions at 10,325. Big moves could go till 10,375, 10,125.  A butterfly of long 10,200c (94), two short 10,300c (39x2), long 10,400c (14) costs 30 and it could pay a maximum of 70 at an index value of 10,300.

 

Bank Nifty

 

Current: 24,644  (fut: 24,667)

Target: NA

Stop-long positions at 24,575. Stop-short positions at 24,775.  Big moves could go till 25,000, 24,300. The financial index is much less bullish than the broader market.

 

Axis Bank  

 

Current price: Rs 513 

Target price: Rs 505 

Keep a stop at Rs 518 and go short. Add to the position between Rs 506 and Rs 508. Book profits at Rs 505.

 

BPCL

 

Current price: Rs 513

Target price: Rs 525

Keep a stop at Rs 507 and go

long. Add to the position between Rs 520 and Rs 522. Book profits at Rs 525.  

 

Infosys   

 

Current price: Rs 930

Target price: Rs 910

Keep a stop at Rs 940 and go short. Add to the position between Rs 915 and Rs 920. Book profits at Rs 910.   

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Target prices, projected movements in terms of next session, unless otherwise stated