I have sold 3 lots of Sept 11 Arvind futures@ Rs 76/73.25/68.35. Please advise a strategy? - S.Murti

Arvind (81.15): Though the outlook remains positive for Arvind, the stock is ruling at a crucial position. The stock finds immediate resistance at Rs 82 and a convincing close above that would take Arvind to new heights. The stock faces support at Rs 76.3 and the crucial one at Rs 65.4.

F&O pointers : Arvind September futures witnessed unwinding of long positions on Friday, signalling that traders are not willing to carry over their position. Options are not active to discern any view. It is also trading in discount with respect to the spot close, indicating existence of short positions.

Strategy : It is better to exit from your positions. If you are willing to take a risk, hold it with a stop loss at Rs 82 (spot price on a closing day basis).

Please suggest strategies for a long position taken on Dhanlaxmi Bank at Rs 80, and short positions on UltraTech Cement at Rs 1,120, and ACC at Rs 1,010 . – Kishore Ailani

Dhanlaxmi Bank (78.5): The outlook remains negative for Dhanlaxmi Bank, as long as it stays below Rs 103. The stock finds immediate support at Rs 65.7 and resistance at Rs 81 and the crucial one at Rs 93.

F&O pointers : The Sept futures added fresh shorts on Friday. None of the options witnessed any activity.

Strategy: Exit.

UltraTech Cement (1,119): The outlook remains positive for UltraTech. The stock finds immediate resistance at Rs 1,137 and the support Rs 1,035. While a close below the support could weaken it to Rs 965, a conclusive close above the resistance could lift the stock to new heights.

F&O pointers: The futures shed open interest marginally on Friday. Options did not see any response.

Strategy : Hold your short position with a tight stop loss at Rs 1,137.

ACC: The stock finds crucial resistance at Rs 1,040 and support at Rs 937. It is likely to move in this range before breaking out.

F&O pointers: The ACC Sept futures witnessed a marginal accumulation of open position, which is positive. Options are not active.

Strategy: Hold your position with a tight stop loss at Rs 1,040.

I have shorted Jubilant Food Sept futures at Rs 1,005. Please give technical and F&O analysis . - Lancelot Lobo

Jubilant Food: The stock has been defying correction since its listing. The outlook remains positive as long as it stays above Rs 710. The stock now finds resistance at Rs 1,013 and the support at Rs 931 and the next one at Rs 805.

F&O pointers: The futures added fresh long positions on Friday. Options are not active.

Strategy: Hold your position with a stop loss at Rs 1,013.

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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