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

For ITC, keep a stop at 196.5 and go long

Nifty

Current:  11,679 (fut: 11,698)

Target: NA

Stop long positions at 11625. Stop short positions at 11775. Big moves could go till 11825, 11575. Trend remains negative but short-covering could lead to a rally. A long March 5, 11500p (59), short 11400p (40) could gain 10-15 if the index tests 11550.

Bank Nifty

Current: 30,307 (30,377)

Target: NA

Stop long positions at 30225. Stop short positions at 30525. Big moves could go till 29950, 30800. Trend remains negative but shortcovering could trigger a rally.

ITC

Current: Rs 199

Target: Rs 203

Keep a stop at 196.5 and go long. Add to the position between 201-202. Book profits at 203.

Hindalco  

Current: Rs 170

Target: Rs 166

Keep a stop at 172 and go short. Add to the position between 167-168. Book profits at 166.

L&T

Current: Rs 1,211 

Target: Rs 1,190

Keep a stop at 1,222 and go short. Add to the position between 1,197-1,202. Book profits at 1,190.