Today's picks: 17 August 2017

Nifty, Bank Nifty, PowerGrid, Tech Mahindra, Ambuja Cements

Nifty       

Current: 9,897  (fut: 9,907) Target: NA

Stop-long positions at 9,845. Stop-short positions at 9,975. Big moves could go till 10,025, 9,775. A long 10,000c (53), long 9,800p (60) may be offset with short 9,700p (39), 10,100c (26). This strangle combo costs 48. Breakevens at 10,048, 9,752. It profits if the Nifty moves 2 per cent in either direction.
 

Bank Nifty      

Current: 24,437  (futures: 24,495) 

Target: NA

Stop-long positions at 24,390. Stop-short positions at 24,605. Big moves could go till 24,800, 24,200. Key resistance at 24,550. Key support at 24,250.

PowerGrid           

Current price: Rs 220 

Target