I have taken a short position on HDIL futures at Rs 156 in March series. Is it better to book loss at current level or hold it with higher stop loss?R.P. Dalvi

HDIL : The stock finds a strong resistance at Rs 168. Thanks to last week rally, the immediate support has moved up to Rs 157. A close below the support level has the potential to weaken the stock towards Rs 140.

F&O pointers: The HDIL April futures witnessed a modest rollover of 17 per cent. Option trading indicates a neutral view for the stock, as traders are not sure of the stock price direction.

Strategy : Consider holding your short position with a tight stop loss at Rs 168.

What is the series trend for IDBI Bank and OnMobile Global, which I entered at Rs 134.5 and at Rs 255 respectively?Pankaj Dhawan

IDBI Bank : The stock is ruling at crucial level and if the current momentum sustains it can go up to Rs 144-147. The immediate support appears at Rs 136. The stock faces a major resistance at Rs 162.

F&O pointers: The IDBI Bank April futures saw rollover of 19 per cent, most of which were on the long side. Unwinding of open interest in both calls and puts of current month series indicates that the stock is likely to move in a narrow range.

Strategy : Hold your position with a tight stop loss at Rs 136.

OnMobile Global: The outlook remains negative for the stock. It faces crucial support at Rs 230 and a resistance at Rs 281. The immediate resistance appears at Rs 253-255.

F&O pointers : The counter saw a rollover of 17.5 per cent. Options are not active in the counter.

Strategy: Exit.

I am holding Nifty 5400 put at Rs 24. It is currently ruling around Rs 4. Should I hold or exit?R. Ashok

Nifty : Nifty facing a major resistance at 5694. A conclusive close above the resistance could lift the benchmark to 5817. Nifty finds immediate support at 5487 and the next at 5317.

F&O pointers : The Nifty saw a rollover of 35 per cent. The fact that options of 5300-5700 strikes were in active zone points that Nifty could swing in this range.

Strategy : As your position is carrying almost nil value, you can hold on to your Nifty put. However, only a dip below 5400 would turn your position positive.

What are the technicals and strategy for the Adani Enterprises bought at Rs 604 and Tata Motors (at Rs 1,193)?– R Vijay

Adani Enterprises : The stock is likely to move in a narrow range between Rs 625 and Rs 575 in the immediate term.

F&O pointers : Futures trading indicates a rollover of just 11 per cent. Adani Enterprises generally is not an active counter in the F&O space.

Strategy: It is better to exit from the counter. If you are willing to take a risk, hold it with a tight stop loss at Rs 598.

Tata Motors: The immediate outlook remains positive though the medium-term appears neutral. The stock finds immediate support at Rs 1,172 and the major one at Rs 1,105. The immediate resistance appears at Rs 1,192 and a close above could lift the stock towards Rs 1,228.

F&O pointers: The counter saw a rollover of 20 per cent, most of which were on the short side. The April futures is quoting in discount with respect to the spot price.

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.

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