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Today's picks- 6 May 2016

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Devangshu Datta
NIFTY
Current: 7,735 (futures: 7,773)
Target: NA
Stop-loss short positions at 7,835. Stop-long positions at 7,710. Big moves could go till 7,900, 7,650. A long 7,600p (57), short 7,500p (37) could gain 10-15 if the futures drops till 7,650.

BANK NIFTY
Current: 16,281 (fut: 16,392)
Target: NA
Stop-long positions at 16,275. Stop-short positions at 16,510. Big moves could go till 16,725, 16,050. Unclear trend with slight negative bias.

BHEL
Current price: Rs 123
Target price: Rs 126
Keep a stop at Rs 121 and go long. Add to the position between Rs 124 and Rs 125. Book profits at Rs 126.

HINDALCO
Current price: Rs 90.5
Target price: Rs 87.5
Keep a stop at Rs 92 and go short. Add to the position between Rs 88 and Rs 89. Book profits at Rs 87.5.

ASIAN PAINTS
Current price: Rs 867
Target price: Rs 852
Keep a stop at Rs 875 and go short. Add to the position between Rs 855 and Rs 857. Book profits at Rs 852.

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

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First Published: May 06 2016 | 6:00 AM IST

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