Thursday, 23 August 2018

Today's picks: From Tata Steel to BPCL, hot stocks to watch on Thursday

For a liquid secondary market

Nifty
Current: 11,570 (fut: 11,587), Target: NA
Stop-long positions at 11,490. Stop-short positions at 11,655. Big moves could go till 11,450, 11,700. A long 11,700c (24), long 11,400p (24) will gain if there's a 2% move in either direction by settlement.

Bank Nifty
Current: 28,258 (fut: 28,289), Target: NA
Stop-long positions at 28,175. Stop-short positions at 28,400. Big moves could go till 27,950, 28,625. Up trend may be halted by profit-booking.

Tata Steel
Current price: Rs 582
Target price: Rs 572
Keep a stop at Rs 588 and go short. Add to the position between Rs 575 and Rs 577.
Book profits at Rs 572.

Tech Mahindra
Current price: Rs 709
Target price: Rs 720
Keep a stop at Rs 702 and go long. Add to the position between Rs 715 and Rs 718.
Book profits at Rs 720.

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