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F&O trading strategies for today
Here are some futures trading strategies on CNBC-TV18’s show, Hot Futures. Manoj Murlidharan Vayalar, head of derivatives, IIFL PReMIA and Aditya Agarwal, senior derivative analyst at Way2Wealth Securities join the channel to take their pick.
Here are some futures trading strategies on CNBC-TV18's show, Hot Futures. Manoj Murlidharan Vayalar, head of derivatives, IIFL PReMIA and Aditya Agarwal, senior derivative analyst at Way2Wealth Securities join the channel to take their pick.
Vayalar suggests going short on Hindustan Zinc 's October futures. "Short at Rs 118-119 for a stop loss of Rs 126," he says. He has a target of Rs 104 for the stock.
His second strategy today is to go long on Bajaj Holdings , somewhere closer to the Rs 715-716 levels. "Stop loss would be at Rs 704 for a price target of Rs 731," he says.
Agarwal on the other hand, picks Bombay Dyeing and Hexaware.
Friday's session saw some profit booking in Bombay Dyeing and the stock closed below its resistance level. Agarwal expects this stock to seal some selling pressure at lower levels. "Bombay Dyeing can test Rs 350," he says. "So at current levels, short positions can be created in the stock with a stop loss of Rs 377 and target of Rs 350," he says.
On the midcap IT counter, Hexaware has seen good amount of buying over the past week. "Though Friday saw some profit booking, overall, the structure of the stock is still positive," he opines. A lot of long positions are present in this counter and Agarwal expects buying to continue. "Any correction in this stock should be used to make long positions around Rs 80," he advices. "It is a good level to initiate long positions with a target of Rs 88 and stop loss of Rs 77.50," he says.
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