Today's picks: From ONGC to L&T, hot stocks to watch on Wednesday

Nifty, Bank Nifty, ONGC, Tech Mahindra and Larsen & Toubro

Nifty 

Current: 10,124 (fut: 10,159) 

Target: NA

Stop-long positions at 10,090. 

Stop-short positions at 10,230. 

Big moves could go till 10,275, 10,025. 

A long 10,300c (32), 10,000p (40) combination would gain if there’s a big move in either direction.

Bank Nifty 

Current: 24,169 (fut: 24,280)

Target: NA

Stop-long positions at 24,150.

 Stop-short positions at 24,400. 

Big moves could go till 24,600, 23,970. 

Trend remains negative but short-covering could trigger a bounce till 24,500.

ONGC

Current price: Rs 174

Target price: Rs 170

Keep a stop at Rs 176 and go short. 

Add to the position between Rs 171 and Rs 172. 

Book profits at Rs 170.

Tech Mahindra  

Current price: Rs 633

Target price: Rs 642

Keep a stop at Rs 627 and go long. 

Add to the position between Rs 640 and Rs 641. 

Book profits at Rs 642.

Larsen & Toubro  

Current price: Rs 1,293 

Target price: Rs 1,315

Keep a stop at Rs 1,280 and go long. 

Add to the position between Rs 1,305 and Rs 1,310. 

Book profits at Rs 1,315.

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