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I bought Reliance Infra 350 put at Rs 15 Please advice . - Angshuman
Reliance Infra: The stock will move in a narrow range of Rs 315 and Rs 430. As long as it rules above the crucial support, Reliance Infra has the potential to reach Rs 430.
F&O pointers : The counter added fresh shorts on Friday. Option data points Rs 380 as a strong resistance.
Strategy: Hold your put with a stop-loss at Rs 6.40.
I bought Andhra Bank August futures at Rs 81. What should I do? - S. Priya Narayani
Andhra Bank: The outlook turned negative for the stock. It finds immediate resistance at Rs 82 and support at Rs 55. One more conclusive close below Rs 76 will weaken the stock.
F&O pointers : Derivative trading provides little cue.
Strategy : Exit
I am carrying long positions of ITC futures at Rs 360, United Phosphorus at Rs 140, Biocon at Rs 305.30 and LIC Hsg at Rs 217. Please advice- Kishore A.
ITC: The long-term outlook remains positive as long as it stays above Rs 265. If the current trend sustains, it can go up to Rs 410. Immediate support appears at Rs 332.
F&O pointers: ITC futures added 31.2 lakh shares in open interest on Friday. Option trading points to a Rs 360-380 range for the stock.
Strategy: Hold your long with a stop-loss at your entry level.
United Phosphorus : The stock is moving a narrow band of Rs 170 and Rs 105. In the short-term, the stock may try to reach the upper range.
F&O pointers : The counter shed open interest along with fall in share price. Options are not active.
Strategy : Hold your long position with a stop-loss at Rs 135.
Biocon: The outlook remains positive. It faces strong resistance at Rs 345 and a close above will take the stock to new heights. Immediate support appears at Rs 296.
F&O pointers: It added over 3.86 lakh shares in open interest on Friday along with sharp surge in share price. Options are not active.
Strategy: Hold your long position with a sop loss at Rs 310. If the stock opens on strong note, shift the stop loss to Rs 328.
LIC Housing Finance : The outlook turned negative for LIC Housing. The stock finds next support at Rs 152 and a conclusive close below Rs 177 will take the stock towards that level.
F&O pointers: It added fresh short on Friday. Option trading provides a little cue.
Strategy : Exit.
NOTE: The analysis and opinion expressed in this column are based on F&O data available at this point of time and on technical analysis based on past price movements. There is risk of loss in trading.
Feedback may be sent to blfuturesoptions @gmail.com
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