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United Spirits (Rs 2,208.3): The long-term outlook remains positive for United Spirits, as long as it stays above Rs 1,820. However, it has been on a short-term downtrend from its July peak of Rs 2,815. Immediate support lies at Rs 2,110.
F&O pointers: The counter witnessed a rollover of just 13 per cent. However, premium indicates existence of long positions. Trading in near-month options indicates neutral view, as both calls and puts witnessed unwinding of open interests.
Strategy: Traders could consider shorting United Spirits (September) Futures with a stop-loss at Rs 2,250. The stop-loss can be shifted to Rs 1,945, if it dips below that level.
Follow-up: Last week, we had advised traders to consider going short on Infosys. Though it did give some exiting opportunity with profit, overall remained firm.
( Note: Feedback or queries (on positions) may be sent to blfuturesoptions@gmail.com by Sunday noon. Replies will be published on Monday.)
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