Stocks

Cipla outlook remains positive

K.S. BADRI NARAYANAN | Updated on November 15, 2017

I had shorted Essar Oil at Rs 63; Rolta at Rs 70.95; Zee Entertainment at Rs 120.45; and MRPL at 60.95. Suggest strategy.Roshan

Essar Oil (Rs 63): The stock finds resistance at Rs 69 and support at Rs 58. A close below the support could weaken it to Rs 48 and a close above the resistance will take it to Rs 80.

F&O pointers: The Essar Oil Feb futures witnessed a marginal accumulation of short position on Friday. Rollover was marginal at 57 per cent.

Strategy: If you can afford, hold your short position with a stop loss at Rs 69.

Rolta India (Rs 80.5): The outlook remains positive. If it sustains Rs 62, it can reach Rs 98. Immediate support appears at Rs 75.

F&O pointers: Rollover stands healthy at 76 per cent.

Strategy: Exit.

Zee Entertainment (Rs 128): The stock is likely to move in a range of Rs 145-105. It finds immediate resistance and support at Rs 134 and Rs 119 respectively.

F&O pointers: It added fresh longs on Friday. Strategy: Exit

MRPL (Rs 61.4): The outlook remains negative. It finds immediate resistance at Rs 64 and the support at Rs 57. A close below the support will bring the stock towards Rs 51.

F&O pointers: It saw unwinding of positions along with fall in share price. Rollover of open position was 74 per cent. Options are not active.

Strategy: Hold with a stop loss at Rs 64.

I have bought BHEL call of 270-strike at Rs 17 and put of same strike at Rs 14. Please advise. – R.P. Dalvi

BHEL (Rs 273): The stock finds key resistance at Rs 330 and support at Rs 235.

F&O pointers: It added fresh shorts in Friday's trade.

Strategy: Exit, as the key risk to your positions is time value. If BHEL moves in a range, your premium would be eroded.

I have sold Bank of Baroda futures at Rs 760, bought Cipla futures at Rs 330. Advice the market strategy - Manoj Patel

Bank of Baroda (Rs 759): It finds resistance at Rs 812 and support at Rs 750. A close below the support could weaken it to Rs 672.

F&O pointers: It added fresh shorts on Friday.

Strategy: Hold your short with a stop loss at Rs 812.

Cipla (Rs 350): The outlook remains positive for Cipla. It finds immediate resistance at Rs 356 and support at Rs 329. A close above the resistance will impart a fresh trigger for the stock.

F&O pointers: It witnessed profit taking on Friday.

Strategy: Hold your long with stop loss at entry level. Rollover your position, if it sustains Rs 356 on a closing day basis.



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 f&o@thehindu.co.in

Published on January 29, 2012

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

null
This article is closed for comments.
Please Email the Editor

You May Also Like