Today's picks: From Hindalco to GAIL, hot stocks to watch on Thursday

Nifty, Bank Nifty, Hindalco, GAIL, Zee Entertainment

Nifty      

Current: 10,729  (fut: 10,712) Target: NA

Stop-long positions at 10,650. Stop-short positions at 10,775. Big moves could go till 10,825, 10,600 but movement likely to be muted on settlement. A short Dec 10900c (122), short Dec 10500p (119) can be sold with intention of buying back on Friday when premiums should be lower.

Bank Nifty       

Current: 26,458   (futures: 26,408) 

Target: NA  

Stop-long positions at 26,300. Stop-short positions at 26,525. Big moves could go till 26,700, 26,100. Trend is negative but short covering could shore up the index until settlement.

Hindalco            

Current price: Rs 216 

Target price: Rs 212

Keep a stop at 218 and go short. Add 

to the position between 213-214.  

Book profits at 212. 

GAIL     

Current price: Rs 339  

Target price: Rs 330

Keep a stop at 342 and go short. 

Add to the position between 331-332.  Book profits at 330.

Zee Entertainment          

Current price: Rs 477    

Target price: Rs 485

Keep a stop at 473 and go long. 

Add to the position between 480-482.  Book profits at 485.

Target prices, projected movements in terms ofnext session, unless otherwise stated Devangshu Datta