Today's Picks: January 10, 2017
Nifty, Bank Nifty, ITC, Coal India, Dr Reddy's Lab
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Last Updated : Jan 10 2017 | 6:00 AM IST
Nifty
Current: 8,236 (fut: 8,253), Target: NA
Stop loss long positions at 8170. Stop loss short positions at 8300. Big moves could go till 8375, 8125. The cost is 36 with breakevens at 8064, 8436 and a maximum return of 64.
Bank Nifty
Current: 18,286 (fut: 18,230), Target: NA
Stop loss long positions at 18210. Stop short positions at 18430. Big moves could go till 18650, 17975. Index currently range-bound with key resistance at 18370-18400 and support at 18200-18225.
ITC
Current price: Rs 246, Target price: Rs 250
Keep a stop at 244 and go long. Add to the position between 248-249. Book profits at 250.
Coal India
Current price: Rs 300, Target price: Rs 294
Keep a stop at 303 and go short. Add to the position between 295-296. Book profits at 294.
Dr Reddy's Lab
Current price: Rs 3060, Target price: Rs 3000
Keep a stop at 3095 and go short. Add to the position between 3020-3030. Book profits at 3000.
Target prices, projected movements in terms of next session, unless otherwise stated