<b>Today's picks:</b> 20 January, 2017

Nifty, Bank Nifty, Power Grid, ITC and Zee Entertainment

Nifty       

Current: 8,435 (fut:  8,438) Target: NA

Stop loss long positions at 8,375. Stop loss short positions at 8,500. Big moves could go till 8,550, 8,325. Trend seems positive. A strangle of 8,400p (33), 85,00c (21) has breakevens at 8,346, 8,554. Four sessions to go - this may be a sell.

Bank Nifty     

  

Current: 19,124 (futures: 19,145)

Target: NA

Stop loss long positions at 19,025. Stop short positions at 19,275. Big moves could go till 19,450, 18,850. Index seems range-bound between 19,050 and 19,250.  Correction a little more likely.

Power Grid   

       

Current: Rs 202 

Target: Rs 206

Keep a stop at Rs 200 and go long. Add to the position between Rs 204 and Rs 205. Book profits at Rs 206.

ITC    

Current: Rs 254  

Target: Rs 250

Keep a stop at Rs 257 and go short. Add to the position between Rs 251 and Rs 252. Book profits at Rs 250.
 

Zee Entertainment     

Current: Rs 477  

Target: Rs 470

Keep a stop at Rs 480 and go short. Add to the position between Rs 471 and Rs 473. Book profits at Rs 470.