Today's Picks: 1 June, 2017

Nifty, Bank Nifty, Vedanta, Coal India and ITC

Nifty 

Current: 9,621 (fut: 9,629), Target: NA

Stop-long positions at 9,570. Stop-short positions 9,700. Big moves could go till 9,750, 9,500. A long 9,500p (65), short 9,400p (45) could gain 10-15 if the index drops till 30.

Bank Nifty 

Current: 23,425 (fut: 23,335) Target: NA

Backwardation visible. Stop-long positions at 23,250. Stop-short positions at 23,410. A long June 8, 23,000p (67), short 22,500p (12) would gain if the financial index falls in the next six sessions.

Vedanta

Current: Rs 239; Target: Rs 234 

Keep a stop at Rs 241 and go short. Add to the position between Rs 235 and Rs 236. Book profits at Rs 234.

Coal India

Current price: Rs 262 Target price: Rs 257

Keep a stop at Rs 265 and go short. Add to the position between Rs 258 and Rs 259. Book profits at Rs 257.

ITC 

Current price: Rs 312 Target price: Rs 318

Keep a stop at Rs 309 and go long. Add to the position between Rs 315 and Rs 316. Book profits at Rs 318.

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