Today's picks: 29 August 2017

Nifty, Bank Nifty, Tata Steel, Coal India, NTPC

Nifty       

Current: 9,912 (fut: 9,915) Target: NA

Stop-long positions at 9,850. Stop-short positions at 9,975. Big moves could go till 10,025, 9,800. A short 10,000c (12), short 9,800p (12) has breakeven at 10,025, 9,775. This is unlikely to be hit in the remaining 3 sessions.

Bank Nifty       

Current: 24,377  (futures: 24,363) 

Target: NA  

Stop-long positions at 24,275. Stop-short positions at 24,475. Big moves could go till 24,650, 24,050. Big moves seem unlikely. Trend may have bearish bias.

Tata Steel           

Current price: Rs 635 

Target price: Rs 648

Keep a stop at Rs 628 and go long. Add to the position between Rs 642 and Rs 645.  Book profits at Rs 648. 

Coal India    

Current price: Rs 243  

Target price: Rs 239

Keep a stop at Rs 245 and go short. Add to the position between Rs 240 and Rs 241 Book profits at Rs 239.

NTPC         

Current price: Rs 173  

Target price: Rs 177

Keep a stop at Rs 171 and go long. Add to the position between Rs 175 and Rs 176.  Book profits at Rs 177.

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