I bought 8 lots of DLF 140 CA at Rs 12.65.Kindly advice - G. Ganesa Thangadurai

DLF: The short-term outlook also turned negative for DLF. Immediate support appears at Rs 127 and a close below Rs 120 will trigger a fresh slide in the stock. Immediate resistance appears at Rs 150. F&O pointers: The counter added fresh shorts on Friday. Option trading indicates a negative bias and points a range of Rs 130-150 for the stock.

Strategy: It is better to exit from DLF. If you are willing to take a risk, sell 150 call that closed at Rs 5.20. This will reduce your loss as well as profit.

I have long positions of TCS at Rs 1,965 and Tech Mahindra at Rs 1,402. Please advice. - Jayesh

TCS: The long-term outlook remains positive for TCS, as long as it stays Rs 1,540. As long as TCS remains above Rs 1,820, it has the potential to reach Rs 2,250. Immediate resistance and support appear at Rs 2,000 and Rs 1,900 respectively.

F&O pointers: TCS futures witnessed marginal accumulation in open interests. Option trading indicates a range of Rs 1,800-2,000 for the stock.

Strategy: If you can afford hold your position with a stop-loss at Rs 1,900.

Tech Mahindra: The outlook remains positive for Tech Mahindra. The stock finds resistance at Rs 1,430 and support at Rs 1,202. The stock could see some pressure in the short-term.

F&O pointers: Short built-up was seen on the counter. Options are not that active. Derivative trading, however, points to signs of weakness.

Strategy: Exit and re-enter once it takes a clear positive momentum

I have bought NTPC-140 put option at Rs 2.90. Please advise - Pratik B. Desai

NTPC: Though the long-term outlook for NTPC remains negative, in the short-term, the stock is likely to move in a narrow range. It finds near-term resistance at Rs 155 and support at Rs 143 and the crucial one at Rs 123. A close above the resistance has the potential to lift the stock towards Rs 166.

F&O pointers: The counter shed open positions along with fall in share price. Options are not active

Strategy: Hold your put with a stop-loss at Rs 1.35.

I have long positions each of Hindustan Lever at Rs 629.60, Tata Motors at Rs 340.50, Tata Communications at Rs 189.25 and Sun Pharma at Rs 567.90. Please advice strategies - Kishore Ailani

Hindustan Unilever: The long-term outlook remains positive for Hindustan Unilever. It finds support at Rs 580 and resistance at Rs 680. If it sustains above Rs 580, Hindustan Unilever has the potential to reach new high at Rs 820 level. A close below the support, however, will drag the stock towards Rs 439.

F&O pointers: The counter added fresh shorts on Friday. Options point 660 as resistance zone.

Strategy: Better to exit. If you can bear with the risk, hold the position with a stop-loss at Rs 580.

Tata Motors: The long-term outlook remains positive for Tata Motors. It finds immediate support at Rs 280 and resistance at Rs 350. The short-term outlook remains negative for Tata Motors.

F&O pointers: The counter shed open interests along with fall in share price. Option trading points 300 as crucial level.

Strategy: It is better to exit.

Tata Communications: The near-term outlook turned positive for Tata Communications. It finds immediate support at Rs 170 and as long as it sustains that level, it has the potential to reach Rs 225.

F&O pointers: The counter saw marginal additions in longs on Friday. Options are not active.

Strategy: Hold your long with your entry level.

Sun Pharma: The long-term positive outlook remains intact as long as Sun Pharma stays above Rs 468. Immediate support appears at Rs 525.

F&O pointers: Sun Pharma Oct futures witnessed a marginal accumulation in open interest. Options are not active. However, a little cue available indicates Rs 600 could be strong resistance.

Strategy: Hold your long positions with a stop-loss at Rs 525.

I have SAIL October futures bought at 52 and ACC futures bought at 1,120. - P.Subramanian

SAIL: Despite recent gains, the outlook remains negative for SAIL. It finds immediate support at Rs 48 and resistance at Rs 57.5.

F&O pointers: Derivative trading offers no clue.

Strategy: Better to exit and re-enter once it takes a clear positive bias.

ACC: The stock finds immediate resistance at Rs 1,160 and support at Rs 1,027. A close below Rs 948 will change the outlook negative for ACC.

F&O pointers: Derivative trading in ACC is not that active.

Strategy: Better to exit.

Note: The analysis and opinion expressed in this column are based on F&O date available at this point of time and on technical analysis based on past price movements. There is risk of lass in trading.

Feedback may be sent to blfuturesoptions@gmail.com

(This article was published on September 29, 2013)
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