Comments
I am holding long positions of ITC at Rs 328, Sesa Sterlite at Rs 190 and Tata Global at Rs 155. Should I carry to Dec? - Sushil
ITC: The long-term outlook remains positive for ITC as long as it stays above Rs 265. In the immediate term, the stock finds support at Rs 295 and resistance at Rs 323.
F&O pointers : The counter witnessed a healthy rollover of 34 per cent to the December series. It added short positions signalling negative bias. Option trading indicates Rs 330 as key resistance.
Strategy: Exit. If you can afford, hold your position with a stop-loss at Rs 295.
Sesa Sterlite : The long-term outlook turned negative after the stock slipped below Rs 201. Immediate resistance is at Rs 184 and support at Rs 162. It is heading towards support zone.
F&O pointers : The counter witnessed a modest rollover of 18 per cent. However, accumulation of open interest on short side seen.
Strategy : Exit
Tata Global: The stock is ruling at a crucial level. One more conclusive close below Rs 145 will drag the stock towards Rs 120. Immediate resistance is placed at Rs 150 and support at Rs 135.
F&O pointers: Tata Global witnessed a modest rollover of 15 per cent. Option trading indicates a neutral view.
Strategy: Exit and re-enter once it takes a clear direction.
I have bought long position of Dr Reddy's at Rs 2,441.20 and short position of Asian Paints at Rs 536. Kindly advice - Kishore Ailani
Dr Reddy's: The outlook remains positive. If the current trend sustains, the stock has the potential to reach Rs 2,700. Only a close below Rs 2,360 will alter the near-term outlook negative.
F&O pointers: A modest rollover of 17 per cent witnessed in the counter. Options are not that active
Strategy : Hold your long with a stop-loss at Rs 2,360.
Asian Paints : The long-term outlook remains positive. The stock finds support at Rs 490 and the next one at Rs 455. However, in the short-term the stock may move in a narrow range.
F&O pointers: Options are not active.
Strategy: It is better to book profits. If you are willing to hold, keep the stop-loss at your entry level.
I bought United Spirits 2500 put option at Rs 60 on last Friday. The 5-per cent gain on Friday and the impending F&O expiry worry me. Pl advice. - Ramakrishnan
United Spirits : The long as well the short-term outlook remains positive for United Spirits. It finds immediate support at Rs 2,315 and resistance at Rs 2,675.
F&O pointers: The counter witnessed a healthy rollover of 25 per cent to next month series. Option trading indicates Rs 2,600 and Rs 2500 as a crucial range.
Strategy : It is better to exit for USL. It is also advisable to avoid buying option towards expiry due to decaying time value.
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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