Outlook remains positive for Tata Global

I have long positions on Dish TV and Tata Global. Kindly guide me the trend. - Sushil Dogra

Dish TV: The outlook remains neutral for Dish TV. The stock is expected to move in Rs 80-50 range. It finds immediate support at Rs 62.5 and resistance at Rs 73.

F&O pointers: Dish TV futures witnessed accumulation of fresh short positions. Options are not that active.

Strategy: It is better to exit Dish TV. If you can afford, hold it with a stop-loss at Rs 62.5

Tata Global Beverages: The long-term outlook remains positive for Tata Global Beverages as long as it stays above Rs 114. After hitting a low at Rs 122, the stock has been on recovery mode. If the current rally sustains, it can reach Rs 162. For that it has to close above Rs 146. While it finds immediate support at Rs 135, a close below Rs 125 will change the outlook negative.

F&O pointers: While futures added over two lakh shares in open interests, options trading indicates resistances at Rs 140 and Rs 150 levels.

Strategy: If you can afford, hold your long with a stop-loss at Rs 135.

I have bought Bata India May futures at Rs 740. Can I hold the same for two/three months? Kindly advise . - Suresh R.

Bata India: After a sharp surge, the outlook turned negative for Bata India. It finds support at Rs 696 and resistance at Rs 740. Only a close above Rs 825 will change the long-term outlook positive for Bata India.

F&O pointers : Derivative trading provides a little cues.

Strategy: It is better to exit and re-enter once the stock takes a clear direction.

I have bought LIC Housing Financing May futures at Rs 225 and Opto Circuits May futures at Rs 62. Suggest me exit points. - P. Subramanian

LIC Housing: The immediate term outlook turned positive for the stock. The stock finds support at Rs 224 and resistance at Rs 255. If the current rally sustains, the stock will reach Rs 271. A close below Rs 214 will change the outlook negative.

F&O pointers: Despite sharp surge, accumulation in open interest has been moderate on Friday. Option indicates 250 as crucial level.

Strategy: Hold your long with a stop-loss at Rs 241 for a target of Rs 255.

Opto Circuits: The long-term outlook remains negative for Opto Circuits. The stock finds resistance at Rs 78 and support at Rs 55.

F&O pointers: The counter witnessed unwinding of positions along with fall in share price. Options are not active.

Strategy: Exit.

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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