Comments
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
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