Today's picks: 2 June 2015

Nifty, Bank Nifty, Hindalco, HDFC & Ambuja Cement

NIFTY
Current: 8,236 (fut: 8,220)
Target: NA

Stop loss long positions at 8,145. Stop short positions at 8,300. A long 8,100p (44) , short 8,000p (30) could double if the futures test 8,150.

BANK NIFTY
Current: 17,977 (fut: 17,920)
Target: 17,700 (fut: 17,750)

Keep a stop at 18,100 and go short. Add to the position between 17,775-17,800. Book profits at 17,750.

HINDALCO
Current price: Rs 123  
Target price: Rs 120

Keep a stop at Rs 125 and go short. Add to the position between Rs 121-Rs 122. Book profits at Rs 120.

HDFC
Current price: Rs 1,203
Target price: Rs 1,225

Keep a stop at Rs 1,190 and go long. Add to the position between Rs 1,215-Rs 1,220. Book profits at Rs 1,225.

AMBUJA CEMENT
Current price: Rs 231
Target price: Rs 226

Keep a stop at Rs 234 and go short. Add to the position between Rs 228-Rs 229. Book profits at Rs 226

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