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Today's picks: 29 June 2017

Devangshu Datta |  Jun 29, 2017 06:00 AM IST

Nifty      
Current: 9,491 (fut: 9,502) Target: NA
Stop-long positions at 9,450. Stop-short positions at 9,500. Big moves could go till 9,600, 9,400. Traders don't expect a big move. A long 9,500p (25), long 9,500c (25) combination breaks even at 9,450, 9,550.
 
Bank Nifty      
Current: 23,235.85  (futures:  23,257.70)
Target: NA 
Stop-long positions at 23150. Stop-short positions at 23,375. Big moves could go till 23,500, 23,000. Support at 23,150, 23,050. Trend has a downside bias but short-covering could hold prices up today.
 
ZEE Entertainment           
Current price: Rs 484
Target price: Rs 475
Keep a stop at Rs 489 and go short. Add to the position between Rs 478 and Rs 480. Book profits at Rs 475.
 
Coal India   
Current price: Rs 246  
Target price: Rs 241
Keep a stop at Rs 249 and go short. Add to the position between Rs 242 and Rs 243. Book profits at Rs 241.
 
Tata Steel        
Current price: Rs 521 
Target price: Rs 530 Keep a stop at Rs 516 and go long. Add to the position between Rs 525 and Rs 527. book profits at Rs 530.
Target prices, projected movements in terms of next session, unless otherwise stated
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