Today's picks- 7 September 2015

NIFTY
Current: 7,559 (futures: 7,575)
Target: NA
Stop-loss short positions at 7,625. Stop-long positions at 7,490. Big moves could be till 7,700, 7,425. A long 7,400p (115), short 7,300p (88) could gain 15-20 if the futures hits 7,475.

BANK NIFTY
Current: 15,790 (fut: 15,825)
Target: NA
Stop-loss short positions at 15,925. Stop-loss long positions at 15,675. Bug moves could go till 16,100, 15,500. Downtrend likely to continue.

ONGC
Current price: Rs 226 
Target price: Rs 222
Keep a stop at Rs 228 and go short. Add to the position between Rs 223 and Rs 224. Book profits at Rs 222.

POWERGRID
Current price: Rs 122
Target price: Rs 119
Keep a stop at Rs 123.5 and short. Add to the position between Rs 119.75 and Rs 120.5. Book profits at Rs 119.  

TECH MAHINDRA
Current price: Rs 538
Target price: Rs 548
Keep a stop at Rs 532 and go long. Add to the position between Rs 542 and Rs 545. Book profits at Rs 548.

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