Today's picks: From Wipro to Grasim, hot stocks to watch on Wednesday

Nifty, Bank Nifty, Wipro, Grasim , HDFC

Nifty 
 

Current: 10,869 (fut: 10,902), Target: NA

Stop-long positions at 10,800. Stop-short positions at 11,000. Big moves could go till 11,075, 10,725. Excess volatility likely if Monetary Policy surprises. A long 11,100c (91), long 10,700p (117) can be offset with short 11,200c (59), short 10,600p (91) for a cost of 58. Breakevens at 11,158, 10,642.

Bank Nifty 
 

Current: 26,693 (fut: 26,818)

Target: NA

Stop-long positions at 26,550. Stop-short positions at 27,050. Big moves could go till 27,250, 26,350. Excess volatility likely if Monetary Policy surprises. 

Wipro 
 

Current price: Rs 335

Target price: Rs 341 

Keep a stop at Rs 332 and go 

long. Add to the position between Rs 339 and Rs 340. 

Book profits at Rs 341.

Grasim 
 

Current price: Rs 845

Target price: Rs 830

Keep a stop at Rs 855 and go short. Add to the position between Rs 832 and Rs 836. 

Book profits at Rs 830.

HDFC 

Current price: Rs 1,940 

Target price: Rs 1,905

Keep a stop at Rs 1,960 and go short. Add to the position between Rs 1,910 and Rs 1,920. Book profits at Rs 1,905.

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

Devangshu Datta