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Today's picks: From Coal India to UPL, hot stocks to watch on Wednesday

For Coal India, keep a stop at Rs 231 and go long. Add to the position between Rs 235 and Rs 236

Devangshu Datta 

Coal India

Nifty

Current: 10,802 (fut: 10,833)


Target: NA

Stop-long positions at 10,750. Stop short positions at 10,910. Big moves could go till 10,975, 10,700. A short 10,700p (109), short 11,000c (80), long 11,100c (49), long 10,600p (82) offers a net inflow of 58, with a maximum cost of 42 and breakevens at 10642, 11058.

Bank Nifty

Current: 27,509 (fut: 27,610)

Target: NA

Stop-long positions at 27,450. Stop short positions at 27,750. Big moves could go till 27,950, 27,250. Trend could be positive and test resistance at 28,000.

Indiabulls Housing

Current price: Rs 812

Target price: Rs 800

Keep a stop at Rs 820 and go short. Add to the position between Rs 801 and Rs 804. Book profits at Rs 800.

UPL

Current price: Rs 752

Target price: Rs 740

Keep a stop at Rs 759 and go short. Add to the position between Rs 742 and Rs 745. Book profits at Rs 740.

Coal India

Current price: Rs 233

Target price: Rs 237

Keep a stop at Rs 231 and go long. Add to the position between Rs 235 and Rs 236. Book profits at Rs 237.



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

First Published: Wed, January 09 2019. 06:30 IST
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