Today's picks: 31 August 2017

Nifty, Bank Nifty, Ambuja Cements, Hindalco, Tata Steel

Nifty

Current: 9,884 (fut: 9,880) Target: NA

Stop-long positions at 9,825. Stop-short positions at 9,930.

Big moves could go till 10,000, 9,775. A long 9,800p (7), short 9,900c (12) has breakevens at around 9,920, 9,780.

Bank Nifty
 

Current: 24,308 (fut: 24,311) Target: NA

Stop-long positions at 24,200. 

Stop-short positions at 24,425. Big moves could go till 24,600, 24,000. Major resistance between 24,000 and 24,450, support at 24,220-24,225. The index may have a downside bias.

Ambuja Cements
 

Current price: Rs 280 

Target price: Rs 285

Keep a stop at Rs 277 and go long. Add to the position between Rs 282 and Rs 283. Book profits at Rs 285.

Hindalco
 

Current price: Rs 236

Target price: Rs 240

Keep a stop at Rs 234 and go long. Add to the position between Rs 238 and Rs 239. Book profits at Rs 240. 

Tata Steel
 

Current price: Rs 638

Target price: Rs 650

Keep a stop at Rs 632 and go long. 

Add to the position between Rs 643 and Rs 646. Book profits at Rs 650.

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