TODAY’S PICKS

Bank Nifty

Current: 25,592 (fut: 25,651) Target: NA Stop-long positions at 25,475. Stop-short positions at 25,775. Big moves could go till 25,950, 25,350. Trend seems negative.

Ambuja Cements

Current price: ~267.5 Target price: ~263 Keep a stop at ~270 and go short. Add to the position between ~264 and ~265. Book profits at ~263.

Nifty

Current: 10,444 (fut: 10,471), Target: NA Stop-long positions at 10,395. Stopshort positions at 10,550. Big moves could go till 10,600, 10,350. A long 10,500c (43), long 10,400p (40) strangle has breakevens at 10,317, 10,583. This can be offset with short 10,300p (23), short 10,600c (13) to reduce break-evens to 10,353, 10,547.

Hindalco

Current price: ~258 Target price: ~262 Keep a stop at ~256 and go long. Add to the position between ~260 and ~261. Book profits at ~262.

Bharti Airtel

Current price: ~529 Target price: ~520 Keep a stop at ~534 and go short. Add to the position between ~522 and ~524. Book profits at ~520.