Today's picks: 5 May, 2017

Nifty, Bank Nifty, Bank of Baroda, HCL Tech, Adani Ports

Nifty 

Current: 9,360 (fut: 9,381), Target: NA

Stop-loss short positions at 9,455. Stop-long positions 9,310. Big moves could go till 9,500, 9,250. A strangle of 9,200p (38), 9,500c (35) costs 73, with breakevens at approximately 9,125, 9,575. This can be sold with a stop-loss of 90 for the combined position.

Bank Nifty 

Current: 22,720  (fut: 22,760)

Target: NA

New high on the financial index at 22,743. Short positions may be stopped at 22,875. Long positions can be stopped at 22,660. Big moves could go till 23,000, 22,450. Uptrend may last a few sessions.

Bank of Baroda

Current price: Rs 196 

Target price: Rs 200 

Keep a stop at Rs 194 and go long. Add to the position between Rs 198 and Rs 199. 

Book profits at Rs 200.

HCL Tech 

Current price: Rs 818

Target price: Rs 800

Keep a stop at Rs 825 and go short. Add to the position between Rs 803 and Rs 807. 

Book profits at Rs 800.

Adani Ports   

Current price: Rs 339 

Target price: Rs 334

Keep a stop at Rs 342 and go short. Add to the position between Rs 335 and Rs 336. Book profits at Rs 334.

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