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B. Venkatesh

THE following strategies are based on Wednesday's trading in the derivatives segment on the NSE:

Bharti Tele: The May futures contract closed at 216. The outlook may turn negative if the May contract trades below 211.90. The downside price range is 204-201.

Sell May futures after it trades below 211.90. If the futures contract gaps down in the morning trade, initiate the position after the price breaks the 5-minute low. Place the protective stop at 219. Trail the stop to control the upside risk. The margin on the futures position is approximately 17 per cent of the contract value. The minimum order size is 1,000 units. The open interest position is about 10 per cent of the market-wide limit. No alternative strategies are available, as options on the stock are not actively traded.

i-flex Solutions: The May futures contract closed at 650.90. The outlook may turn negative if the May contract trades below 640.20. The downside target range is 621-613.

Sell May futures after it trades below 640.20. Follow the 5-minute rule if the futures contract gaps down in the morning trade.

Place the protective stop at 655 or at the day's high at the time the position is initiated. Trail the stop to control the upside risk. The margin on the futures position is approximately 17 per cent of the contract value. The minimum order size is 300 units.

The open interest position is negligible. No alternative strategies are available, as options on the stock are not actively traded.

(The opinion expressed in this column is based on technical analysis. There is risk of loss in trading)

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