Today's picks: From ONGC to L&T, hot stocks to watch on Wednesday

Nifty, Bank Nifty, ONGC, Tech Mahindra and Larsen & Toubro

Nifty 

Current: 10,124 (fut: 10,159) 

Target: NA

Stop-long positions at 10,090. 

Stop-short positions at 10,230. 

Big moves could go till 10,275, 10,025. 

A long 10,300c (32), 10,000p (40) combination would gain if there’s a big move in either direction.

Bank Nifty 

Current: 24,169 (fut: 24,280)

Target: NA

Stop-long positions at 24,150.

 Stop-short positions at 24,400. 

Big moves could go till 24,600, 23,970. 

Trend remains negative but short-covering could trigger a bounce till 24,500.

ONGC

Current price: Rs 174

Target price: Rs 170

Keep a stop at Rs 176 and go short. 

Add to the position between Rs 171 and Rs 172. 

Book profits at Rs 170.

Tech Mahindra  

Current price: Rs 633

Target price: Rs 642

Keep a stop at Rs 627 and go long. 

Add to the position between Rs 640 and Rs 641. 

Book profits at Rs 642.

Larsen & Toubro  

Current price: Rs 1,293 

Target price: Rs 1,315

Keep a stop at Rs 1,280 and go long. 

Add to the position between Rs 1,305 and Rs 1,310. 

Book profits at Rs 1,315.

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