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I am holding IB Realestate 60 call at Rs 3.15 and SAIL 60 call at Rs 1.40. Please suggest exit level and stop. -Venkata Ramana
Indiabulls Realestate: The short-term outlook remains negative for Indiabulls. It now finds immediate support at Rs 46, which is a crucial level. A close below Rs 46 will trigger a fresh slide on the stock. The stock finds immediate resistance at Rs 64.
F&O pointers: The stock accumulated over eight lakh shares in open interest. Options are not that active. However, a little cue available indicates a positive bias. Option trading also suggests Rs 60 could act as a strong resistance.
Strategy : It is better to exit your call and re-enter once it takes a clear direction. If you are willing to take a risk, hold your position with a stop loss at Rs 1.20.
SAIL: Despite recent gains, the outlook remains negative for SAIL. It finds immediate resistance at Rs 63 and support at Rs 48. Only a close above Rs 76.85 will negate the current downtrend in the stock.
F&O pointers : The counter added fresh longs on Friday. About 10.76 lakh shares were added on Friday. Option trading indicates a positive bias.
Strategy : Hold your position with a stop loss at 65 paise.
I am holding a long position of Tech Mahindra at Rs 1,390 and sold 1,500 October call of Tech Mahindra at Rs 21. I am also holding a short position of JP Associates at Rs 38.25. Kindly advice. - Sushil
Tech Mahindra: The long-term outlook remains positive for Tech Mahindra as long as it stays above Rs 1,228. If Tech Mahindra sustains above Rs 1,300, it has the potential to touch new high above Rs 1,434. Immediate support appears at Rs 1,329.
F&O pointers: The Tech Mahindra Oct futures witnessed unwinding of open positions on Friday. Option trading indicates 1,300 as strong support.
Strategy: Hold your long position with a stop loss at Rs 1,385 and exit your option position.
JP Associates : Only a close above Rs 55 will change the short-term outlook positive. Immediate resistance and support are placed at Rs 44 and Rs 34.5.
F&O pointers: The counter witnessed an accumulation of fresh long on Friday. Option trading indicates a range of Rs 35-40 for the stock.
Strategy: Hold your short position with a stop loss at Rs 40.
I have bought long positions each of Lupin October futrues at Rs 877, Glenmark at Rs 549.15, IRB Infra at Rs 77.40, Godrej Inds at Rs 264.85 and Jain Irrigation at Rs 60.75. Please advice - Kishore
Lupin: The long-term outlook remains positive for Lupin, as long as it stays above Rs 685. Immediate support appears at Rs 775 and as long as it sustains above that level, Lupin will reach new heights. Immediate resistance appears at Rs 851.
F&O pointers : Lupin Oct futures added fresh longs on Friday. Options are not active.
Strategy: Hold your long with a stop loss at Rs 775 and shift to Rs 851 if Lupin manages to move past that level.
Glenmark: The stock finds immediate support at Rs 512 and resistance at Rs 586. Outlook remains positive.
F&O pointers : While futures added fresh longs on Glenmark, options did not see much activity.
Strategy: Hold your position with stop loss at Rs 512.
Note: It is better to avoid pharma counters, till the US settles its debt issue.
IRB Infra: Despite the recent recover, the outlook remains negative for the counter. It now finds immediate resistance at Rs 97.8 and support at Rs 73. A close below the support will drag the stock sharply.
F&O pointers: Fresh short positions were seen accumulated on Friday. Options are not active.
Strategy : It is better to exit.
Godrej Industries: The stock is likely to move a narrow range of Rs 330-230. Only a move away from these levels will set a clear direction for Godrej Ind.
F&O pointers: The counter added fresh longs in futures trade while options did not see any activity.
Strategy: Hold your position with a stop loss at Rs 262.
Jain Irrigation: The stocks crucial resistance at Rs 68 and support at Rs 57. A close below the support would drag the stock sharply.
F&O pointers: Futures trading indicates accumulation of fresh shorts. Options are not active.
Strategy: It is better to book profits.
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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