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Today's picks

Nifty, Bank Nifty,Power Grid, HCL Tech, JP Associates

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Devangshu Datta New Delhi
NIFTY
Current: 6,092 (fut: 6,160);
Target: NA
The Index remains range-bound. Stop-loss shorts at 6,225 and stop loss long positions at 6,100. Breakouts could go till 6,000 or till 6,275. It's possible to take a reversed bearspread of short 6,300c (74) and long 6,400c (44) intending to reverse, as premiums should reduce in the next two sessions.

BANK NIFTY
Current: 10,907; (fut: 11,060)
Target: 10,850
Keep a stop at 11,175 and short. Add to the position between 10,950 and 10,925. Book profits below 11,850. (All futures prices).

POWER GRID
Current price: Rs 94.7;
Target price: Rs 98
Keep a stop at Rs 93 and go long. Add to the position between Rs 95.5 and Rs 96.5. Book profits above Rs 98.
 
HCL TECH
Current price: Rs 1,062;
Target price: Rs 1,090
Keep a stop at Rs 1,050 and go long. Add to the position between Rs 1,075 and Rs 1,085. Book profits above Rs 1,090.

JP ASSOCIATES
Current price: Rs 49.5;
Target price: Rs 46.5
Keep a stop at Rs 50.5 and short. Add to the position between Rs 47.5 and Rs 48.5. Book profits below Rs 46.5.

The target prices and projected movements given above are in terms of the next one trading session, unless otherwise stated

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First Published: Nov 28 2013 | 10:30 PM IST

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