Today's picks: 12 April, 2017

Nifty, Bank Nifty, ITC, Larsen & Toubro, Zee Entertainment

Nifty
       
Current: 9,237   (fut: 9,267)

Target: NA

Stop-short positions at 9,325. Stop-long positions at 9,195. Big moves could go till 9,400, 9,125. A wide strangle with long 9,400c (23), long 9,100p (29) could gain 10-15 if the index swings by 75 points.

Bank Nifty       

Current: 21,736   (futures: 21,755)

Target: NA  

Stop-long positions at 21,650. Stop-short positions at 21,850. Big moves could go till 22,100, 21,400. The Financial index hit a new all time high and a pullback seems slightly more likely.

ITC          

Current price: Rs 282

Target price: Rs 287

Keep a stop at Rs 280 and go long. Add to the position between Rs 285 and Rs 286. Book profits at Rs 287.

Larsen & Toubro     

Current price: Rs 1,704   

Target price: Rs 1,675

Keep a stop at Rs 1,720 and go short. Add to the position between Rs 1,680 and Rs 1,685. Book profits at Rs 1,675.

Zee Entertainment     
   
Current price: Rs 540

Target price: Rs 550

Keep a stop at Rs 535 and go long. Add to the position between Rs 547 and Rs 549. Book profits at Rs 550.