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I have sold Bharti Airtel December futures at 327. Please advice. - S.K. Shah
Bharti Airtel: The outlook for Bharti Airtel is negative.
It now hovers around support level. One more close below Rs 330 will weaken Bharti Airtel to Rs 298 and even to Rs 271. On the other hand, it finds resistance at Rs 366 and a key one at Rs 400.
F&O pointers: Bharti Airtel futures saw rollover of 28 per cent, but most of them were on the short side.
Strategy: Hold your short position with a stop loss of 330 (spot price on a closing day basis).
Kindly suggest strategy for long positions taken in December series: Allahabad Bank at Rs 123.10, Syndicate Bank at Rs 78, DCB at Rs 35.10; and a short position in Sun Pharma at Rs 505.60. What would be ideal levels to exit?- Kishore
Allahabad Bank: The stock is ruling at crucial level. One more close below Rs 120 will drag the stock towards Rs 91. On the other hand, a close above Rs 136 will lift the stock towards Rs 164. Options are not active.
F&O pointers: The stock also saw accumulation of short positions.
Strategy: Hold your long position with a stop loss at Rs 120 (spot price with a closing day price).
Syndicate Bank: The outlook remains negative for Syndicate Bank. It finds immediate resistance at Rs 94 and crucial one at Rs 115. It is also ruling close support at Rs 75 and a close below will drag it to Rs 64. Options are not active.
DCB: The outlook remains weak for DCB. Resistances appear at Rs 37 and next at Rs 44. On the other hand, a close below Rs 28, will weaken it to Rs 18. It finds immediate support at Rs 31.
F&O pointers: Stock witnessed short rollovers. Options are not active.
Strategy: Hold it with a stop-loss at Rs 31.
Sun Pharma: The long-term outlook remains positive for Sun Pharma as long as it stays above Rs 436.
It finds immediate support at Rs 478 and the next one at Rs 455.
Sustained rally could even take the stock up to Rs 720. Immediate resistance appears at Rs 532 and the next one at Rs 584.
F&O pointers: Futures saw a positive rollover. Options are not that active.
Strategy: If you can afford, hold your long positions with a stop loss at Rs 478.
I bought Great offshore January futures at Rs 86.2. What are the support and resistance levels? What should I do? - P.Subramanian
Great Offshore: The outlook remains weak for Great Offshore.
It finds immediate resistance at Rs 98 amd the support at Rs 78. A close below Rs 78 will take it Rs 62.
F&O pointers: Futures witnessed short accumulations. Options are not active.
Strategy: Exit.
I am holding long positions in Hindalco at Rs 125 and Tata Steel at Rs 360, please suggest me a Strategy - Partibane .B
Hindalco: The outlook remains negative.
It finds resistance at Rs 128 and the next one at Rs 149, which is crucial.
On the other hand, a close below Rs 120, will weaken the stock to Rs 105.
F&O pointers: It saw short accumulation and rollover of 32 per cent.
Option trading indicates it could hover around Rs 120.
Strategy: Hold your long position with a stop loss at Rs 120.
Tata Steel: The outlook remains negative for Tata Steel. It finds strong support at Rs 336 and a close below that will weaken it to Rs 295. The resistances are far away at at Rs 380 and at Rs 413.
F&O pointers: Tata Steel witnessed healthy rollover of about 51 per cent. However, most of them were on the short side. Option trading indicates negative bias.
Strategy: Exit.
I have bought Bank Nifty Dec futures at 8410. Please advice stop-loss and support, resistance levels for the same. – J.P. Joshi
Bank Nifty: The outlook remains negative for Bank Nifty. It finds crucial support at 7996 and a close below that will weaken sharply to 7426. Only a close above 9596 will negate current negative outlook.
F&O pointers: It saw a rollover of 33 per cent. Option trading indicates a narrow movement for Bank Nifty.
Strategy: Hold your position with a stop loss at 7996.
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 or >blfuturesoptions@gmail.com
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