Tata Steel outlook remains negative

I have short positions of Tata Steel and Reliance Capital April futures at Rs 315 and Rs 313 respectively. Kindly advice - Partibane B

Tata Steel: The outlook remains negative. It finds key support at Rs 271 and immediate resistance at Rs 340.

F&O pointers: Rollover at 64 per cent was much lower compared with the previous months. Option trading indicates negative bias.

Strategy : Hold your short with a stop-loss at Rs 340, which is quite far away from the current level.

Reliance Capital: The outlook remains negative. It finds key support at Rs 282 and immediate resistance at Rs 334.

F&O pointers : Rollover at 79 per cent though healthy was lower compared with previous months. Option trading indicates 340 as crucial level.

Strategy: Hold your short with a stop-loss at Rs 334.

I am holding long positions of two lots of Reliance Infrastructure purchased at Rs 322 . – Rakesh Khanna

Reliance Infrastructure: The long-term outlook remains negative for Reliance Infrastructure. It finds next support at Rs 287 and resistance at Rs 365.

F&O pointers: Option trading indicates Rs 320 as crucial level. It witnessed a healthy rollover 83 per cent.

Strategy: Hold with a stop-loss (strict) at Rs 320.

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.

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