Today's picks- 11 May 2016

Nifty, Bank Nifty, ACC, BPCL & Dr Reddy

Nifty
Current: 7,888 (futures: 7,923)
Target: NA

Stop-long positions at 7,865. Stop-short positions at 7,985. Big moves could go till 8,050, 7,800. A long A long 8,000c (61), short 8,100c (31) could gain 10-15 if the futures hits 8,000.

Bank Nifty
Current: 16,785 (fut: 16,868)
Target: NA

Stop-long positions at 16,765. Stop-short positions at 18,970. Big moves could go till 17,150, 16,550. Uptrend will hit resistance at 16,920-16,975.

ACC
Current price: Rs 1,463
Target price: Rs 1,475

Keep a stop at Rs 1,450 and go long. Add to the position between Rs 1,470 and Rs 1,472. Book profits at Rs 1,475.

BPCL
Current price: Rs 927
Target price: Rs 915

Keep a stop at Rs 935 and go short. Add to the position between Rs 917 and Rs 920. Book profits at Rs 915.

Dr Reddy
Current price: Rs 2,924
Target price: Rs 2,875

Keep a stop at Rs 2,950 and go short. Add to the position between Rs 2,880 and Rs 2,890. Book profits at Rs 2,875.
Target prices, projected movements in terms of next session, unless otherwise stated