Today's picks: GAIL to Tata Steel, hot stocks to watch on Wednesday

Tata Steel , GAIL, ITC, NIFTY

Nifty 

Current: 11856  (fut: (11902)

Target: NA

Stop long positions at 11800. Stop short positions at 12000. Big moves could go till 12075, 11725. Trend is negative. A long Dec 19 11700p (32), short 11600p (17) could gain 10-15 if the index falls below 11775.

Bank Nifty 

Current 31160 (fut: 31244)

Target: NA

Stop long positions at 31100. 

Stop short positions at 31400. 

Big moves could go till 31600, 30900. Trend is negative.

GAIL  

Current price: Rs 111 

Target price: Rs 107 

Keep a stop at 113 and go short. Add to the position between 108-109. Book profits at 107.

ITC 

Current price: Rs 236

Target price: Rs 230

Keep a stop at 239 and go short. Add to the position between 231-232. Book profits at 230.

Tata Steel   

Current price: Rs 402 

Target price: Rs 410

Keep a stop at 398 and go long. Add to the position between 407-409. Book profits at 410

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