Today's picks: From Sun Pharma to L&T, hot stocks to buy on Wednesday

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

Nifty 
 

Current: 11,222 (fut: 11,268)

Target: NA

Stop long positions at 11,175. Stop short positions at 11,350. Big moves could go till 11,400, 11,125. A long May 30, 11,200p (268), short 11,100p (232) could gain 15-20 if the index drops below 11,200. 

Bank Nifty 
 

Current: 28,830 (fut 28,990)

Target: NA

Stop long positions at 28,825. Stop short positions at 29,125. Big moves could go till 29,350, 28,650. Trend may go bearish again after a round of short-covering.

Sun Pharma  
 

Current price: Rs 419.5 

Target price: Rs 412 

Keep a stop at 424 and go short. Add to the position between 413-414. Book profits at 412.

Asian Paints 
 

Current price: Rs 1,320

Target price: Rs 1,300

Keep a stop at 1,332 and go short. Add to the position between 1,305-1,310. Book profits at 1,300.

Larsen & Toubro  
 

Current price: Rs 1,342

Target price: Rs 1,362

Keep a stop at 1,330 and go long. Add to the position between 1,355-1,360. Book profits at 1,362.