The Hindu Business Line : Outlook may turn positive for Reliance Energy

Titan Industries: Buy July futures after it trades above 500.50. The upside target range is 509-516. Place the protective stop at 495. The minimum order size is 800 units. The open interest position is about 60 per cent of the market-wide limit.

TCS: Buy July futures after it trades above 1,225. The upside target range is 1,236-1,244. Place the protective stop at 1,214.

The minimum order size is 250 units. The open interest position is about 15 per cent of the market-wide limit.

Note that the Titan and TCS are intra-day trades.

Position trade: The best trade for the day appears in Reliance Energy. The July contract closed at 628.50. Buy the July futures after it trades above 632. Initiate the position with protective stop at 618. The upside target is 657-660.

The margin on the position would be approximately 15 per cent of the contract value. The minimum order size is 550 units. The open interest position is about 25 per cent of the market-wide limit.

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

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