Comments
I bought one lot of Tata Steel at Rs 399. Kindly advise - Sushil
Tata Steel: The medium-term outlook remains positive for Tata Steel, despite the recent fall in share price. Immediate resistance appears at Rs 412 and the support at Rs 342. Only a close below Rs 327 will change the outlook negative. Long-term outlook will change positive on a close above Rs 440.
F&O pointers: The Tata Steel Jan futures added fresh short positions on Friday. Option trading indicates a range of Rs 360-400 for Tata Steel.
Strategy: It is better to exit and re-enter once it takes a clear direction. If you are willing to take a risk, hold your position with a stop-loss at Rs 360.
I have shorted Oriental Bank at Rs 159 and still holding it . - Usha Vaidya
Oriental Bank: Despite the recent recover, only a close above Rs 240 will change the medium-term outlook positive. It finds immediate support at Rs 188 and the crucial one at Rs 164. Immediate resistance appears at Rs 221.
F&O pointers: The counter shed open interest positions on Friday along with fall in share price. Options are not active.
Strategy: Hold your short position with a stop loss at Rs 221 and exit below if it hit Rs 188.
I bought Zee Entertainment 320 Call at Rs 2.50.Please give me future out look . - K. Ramesh
Zee Entertainment: The outlook remains positive for Zee Entertainment. It finds support at Rs 277 and the crucial one at Rs 258.
F&O pointers: Zee Entertainment witnessed an accumulation of fresh longs on Friday. Options are not very active. But a little cue available indicates a positive bias.
Strategy: Hold your call with a stop-loss at 75 paise or if Zee Entertainment hits Rs 277.
I bought ICICI Bank call option at strike price 1050. Please suggest strategy. - N.S.Vasu
ICICI Bank: The stock is ruling at critical level. A fall below Rs 997 will change the outlook negative for ICICI Bank. Immediate resistance appears at RS 1,068 and the crucial one at Rs 1,122.
F&O pointers : The counter added fresh short positions on Friday. Option trading indicates a negative bias. Trading in call option suggests a stiff resistance at Rs 1,080-1,100.
Strategy: Close your call option if ICICI Bank closes below Rs 997.
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
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.