Business Standard

Today's picks: From ZEEL to HCL Tech, hot stocks to buy on Tuesday

For HCL Tech Keep a stop at Rs 1,100 and go long

Devangshu Datta  |  New Delhi 

markets

Nifty

Current 11,669 (fut: 11,730),

Target: NA

Stop-long positions at 11,625. Stop-sh­ort positions at 11,825. Big moves could go till 11875, 11,475. A short Apr 11 11800c (67), long Apr 11 11900p (35) can be offset with a long Apr 25, 11800c (137), short Apr 25, 11900c (93). Net cost is 12 and the combined calendar spreads will gain if the index trends up.

Bank Nifty

Current: 30,326 (fut: 30,395),

Target: NA

Stop-long positions at 30,225. Stop-short positions at 30525. Big moves could go till 30,750, 30000. Trend is up with traders expecting a rate cut on the Monetary Policy.

ZEEL

Current price: Rs 432

Target price: Rs 424

Keep a stop at 436 and go short. Add to the position between Rs 425 and Rs 427. Book profits at Rs 424.

IOC

Current price: Rs 159

Target price: Rs 155

Keep a stop at Rs 161 and go short. Add to the position between Rs 156 and Rs 157. Book profits at Rs 155.

HCL Tech

Current price: Rs 1110

Target price: Rs 1130

Keep a stop at Rs 1,100 and go long. Add to the position between Rs 1,122 and Rs 1,125. Book profits at 1,130.

First Published: Tue, April 02 2019. 06:30 IST
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