Today's Picks: August 2, 2017

Nifty, Bank Nifty, HDFC, Indiabulls Housing, Hindalco

Nifty 
 

Current: 10,114 (fut: 10,147), Target: NA

Stop-long positions at 10,075. Stop-short positions at 10,225. Big moves could go till 10,275, 10,025. Expect high volatility. A short 10,000p (72) and a short 10,300c (52) would make a profit if the market doesn't swing much. This can be offset with a long 9,900p (51), long 10,400c (27).  
 

Bank Nifty 

Current: 25,122 (fut: 25,200) 

Target: NA

Stop-long positions at 25,025. Stop-short positions at 25,350. Big moves could go till 25,600, 24,800. Expect high volatility today with trend depending on RBI policy review. 
 

HDFC

Current price: Rs 1,779 Target: NA

Stop-long positions at Rs 1,755. Stop-short positions at Rs 1,800. Big moves could go till Rs 1,820, Rs 1,740. Expect high volatility today with trend depending on RBI policy review. 
 

Indiabulls Housing

Current price: Rs 1,225 Target: Rs 1,245

Keep a stop at Rs 1,210 and go long. Add to the position between Rs 1,235 and Rs 1,240. Book profits at Rs 1,245. If the stock drops below Rs 1,205, go short with a target of Rs 1,190.
 

Hindalco    

Current price: Rs 226  Target: Rs 230

Keep a stop at Rs 223 and go long. Add to the position between Rs 228 and Rs 229. Book profits at Rs 230. 
Target prices, projected movements in terms of next session, unless otherwise stated