I bought one lot of Biocon at ₹452. Kindly advise.
Sushil
Biocon: The long-term outlook remains positive for Biocon. However, in the short-term, the stock could see some moderation and likely to move in a narrow range. Biocon finds immediate resistance at ₹469 and support at ₹393. The stock finds crucial support at ₹353 and only a close below this level will change the long-term outlook negative for the stock.
F&O pointers: Biocon futures witnessed a healthy rollover of 27 per cent into next month series. Current month options indicate ₹460 as a crucial level while February option contracts are not active.
Strategy: If you can afford, hold your long position with a stop-loss at ₹393.
I bought TCS 2300 Call option at ₹7.85. Kindly advise.
G. Ganesa Thangadurai
TCS: The long-term outlook remains positive for TCS. It finds immediate support at ₹2,245. As long as TCS stays above ₹1,880, there is no threat to current rally.
F&O pointers: TCS futures witnessed a strong rollover of about 40 per cent into February series. Option trading indicates a range of ₹2,200-2,400.
Strategy: Better to exit. However, if you can afford, hold your positions with a stop-loss at ₹2.5.
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