DERIVATIVE PICK

• ICICI BANK (CASH – Rs.1040.30) : The stock has shown a lot of resilience on days when the market is in a bearish mode. The stock has formed a long White Candle on strong volume expansion. Buying is advised above Rs.1045 for a target of Rs.1058 and Rs.1072. Higher target of Rs.1086-88 is also possible. Stop Loss of Rs.1024 should be kept.

• PNB (CASH – Rs.1110.35) : The stock after a long consolidation between Rs.1040 and Rs.1113 is now ready for an upward breakout. Buying is advised above Rs.1115 for a target of Rs.1127 and Rs.1139. Higher target of Rs.1144-1148 is also possible. Stop Loss of Rs.999 should be kept.