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I have short positions in Reliance Infra at Rs 348 and Hindalco at Rs 99.6. Please advice - Partibane .B
Reliance Infrastructure: The stock finds immediate resistance at Rs 376 and support at Rs 335. The medium-term trend will turn positive only if the stock closes above Rs 438.
F&O pointers: The stock witnessed a moderate rollover of 24 per cent. Option trading indicates a slight negative bias.
Strategy : Hold your short position with your entry level.
Hindalco: The outlook still remains negative for Hindalco despite a steep slide. It finds next support at Rs 72 and resistance at Rs 99.
F&O pointers: Hindalco futures witnessed a rollover of 23 per cent. Option trading indicates a support at Rs 85.
Strategy: It is better to book profits
I bought one lot DLF March futures at Rs 273, Any solution to reduce my huge loss before expiry ? Pas Mudaliar
DLF: The stock finds crucial support at Rs 224. A close below that will drag the stock towards Rs 182 though in between Rs 206 and Rs 192 will act as minor support zones. Immediate resistance appears at Rs 242 and the next one at Rs 260.
F&O pointers: It witnessed a healthy rollover of 36 per cent. Option trading indicates a negative bias.
Strategy: It is better to exit. If you can afford, hold your long position with a stop-loss at Rs 224. If DLF manages to move above Rs 238, shift the stop-loss to that level and hold your position.
I am carrying short positions of Shree Renuka Sugars at Rs 24.20 and IRB Infrastructure at Rs 118.65 Please advice . - Kishore Ailani
Shree Renuka: The outlook remains negative for Shree Renuka Sugars. It finds crucial support at Rs 20.5 and resistance at Rs 26.5 and the next one at Rs 36.75.
F&O pointers: Rollover to April series stood at 17 per cent. Options are not active.
Strategy: Hold till expiry with a stop-loss at Rs 22.65.
IRB Infra: The outlook remains negative for IRB Infrastructure Developers. It finds immediate support at Rs 100 and a close below has the potential to weaken the stock towards Rs 85. Immediate resistance appears at Rs 123.
F&O pointers: IRB Infrastructure May futures witnessed a rollover of 33 per cent. Options are not that active. A little cue available suggests Rs 110 is crucial level.
Strategy: Book profit.
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
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