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B. Venkatesh

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

IPCL: The April futures contract closed at 161.90. The outlook appears negative. The downside target range is 155-153.

Sell April futures after it trades below 161.80. Initiate the position with protective stop at 167. Trail the stop to control the upside risk. The margin on the futures position is approximately 16 per cent of the contract value. The minimum order size is 1,100 units. The open interest position is about 70 per cent of the market-wide limit. No alternative strategies are available, as options on the stock are not actively traded.

Tata Tea: The April futures contract closed at 526.50. The outlook appears negative. The downside target range is 510-507.

Sell April futures after it trades below 525.05. Initiate the position with protective stop at 534. Trail the stop to control the upside risk. The margin on the futures position is approximately 16 per cent of the contract value. The minimum order size is 550 units. The open interest position is about 20 per cent of the market-wide limit. Options-based strategies are not available, as calls and puts on the stock are not actively traded.

Tata Power: The April futures contract closed at 357.50. The outlook may turn negative if the April contract trades below 354.20. The downside target range is 333-330.

Sell April futures after it trades below 354.20. Initiate the position with protective stop at 367. Trail the stop to control the upside risk. The margin on the futures position is approximately 19 per cent of the contract value. The minimum order size is 800 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.

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

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