<b>Today's picks:</b> 20 January, 2017
Nifty, Bank Nifty, Power Grid, ITC and Zee Entertainment
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Last Updated : Jan 20 2017 | 6:00 AM IST
Nifty
Current: 8,435 (fut: 8,438) Target: NA
Stop loss long positions at 8,375. Stop loss short positions at 8,500. Big moves could go till 8,550, 8,325. Trend seems positive. A strangle of 8,400p (33), 85,00c (21) has breakevens at 8,346, 8,554. Four sessions to go - this may be a sell.
Bank Nifty
Current: 19,124 (futures: 19,145)
Target: NA
Stop loss long positions at 19,025. Stop short positions at 19,275. Big moves could go till 19,450, 18,850. Index seems range-bound between 19,050 and 19,250. Correction a little more likely.
Power Grid
Current: Rs 202
Target: Rs 206
Keep a stop at Rs 200 and go long. Add to the position between Rs 204 and Rs 205. Book profits at Rs 206.
ITC
Current: Rs 254
Target: Rs 250
Keep a stop at Rs 257 and go short. Add to the position between Rs 251 and Rs 252. Book profits at Rs 250.
Zee Entertainment
Current: Rs 477
Target: Rs 470
Keep a stop at Rs 480 and go short. Add to the position between Rs 471 and Rs 473. Book profits at Rs 470.