Today's picks: From Tata Steel to Ultratech, hot stocks to watch on Friday
Keep a stop at Rs 616 and go long for Tata Steel
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Last Updated : Apr 20 2018 | 6:00 AM IST
Nifty
Current: 10,565 (fut: 10,579)
Target: NA
Stop-long positions at 10,500. Stop-short positions at 10,650. Big moves could go till 10,700, 10,450. A long 10,600c (48), long 10,500p (38) strangle can be laid off with short 10,400p (22), short 10,700c (14) for a net cost of 50, and breakevens of 10,450, 10,650.
Bank Nifty
Current: 25,126 (fut: 25,175)
Target: NA
Stop-long positions at 25,050. Stop-short positions at 25,300. Big moves could go till 25,550, 25,800. Trend could have negative bias.
Tata Steel
Current price: Rs 622
Target price: Rs 632
Keep a stop at Rs 616 and go long. Add to the position between Rs 629 and Rs 631. Book profits at Rs 632.
Ultratech Cement
Current price: Rs 4,103
Target price: Rs 4,030
Keep a stop at Rs 4,145 and go short. Add to the position between Rs 4,045 and Rs 4,055. Book profits at Rs 4,030.
Indian Oil Corporation
Current price: Rs 158
Target price: Rs 154.5
Keep a stop at Rs 160 and go short. Add to the position between Rs 155 and Rs 156. Book profits at Rs 154.5.
Target prices, projected movements in terms of next session, unless otherwise stated