Today's Picks: July 12, 2017

Nifty, Bank Nifty, Hindalco, NTPC, Cipla

Nifty 

Current: 9,786 (fut: 9,792), 

Target: NA

Stop-short positions at 9,850. Stop-long positions at 9,725. Big moves could go till 9,900, 9,700. A long 9,700p (48), short 9,600p (28) could double if support at 9,725 is tested.

Bank Nifty 

Current: 23,584 (fut: 23,603)

Target: NA

Stop-short positions at 23,710. Stop-long positions at 23,500. Big moves could go till 23,300, 23,900. Correction may test support at 23,450-23,475.

Hindalco

Current price: Rs 200 

Target price: Rs 204 

Keep a stop at Rs 198 and go long. Add to the position between Rs 202 and Rs 203. Book profits at Rs 204.

NTPC   

Current price: Rs 163 

Target price: Rs 159

Keep a stop at Rs 165 and go short. Add to the position between Rs 160 and Rs 161. Book profits at Rs 159.

Cipla   

Current price: Rs 538

Target price: Rs 526

Keep a stop at Rs 545 and go short. Add to the position between Rs 528 and Rs 530. Book profits at Rs 526. Target prices, projected movements in terms of next session, unless otherwise stated