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B. Venkatesh

THE following strategies are based on Thursday's trading in the derivatives segment on the NSE:

Bank of Baroda: The June futures contract closed at 195.50. The outlook may turn negative if it trades below 192. The downside target range is 179-177.

Sell June futures after it trades below 192. Initiate the position with a protective stop at 199.50. Trail the stop to control the upside risk. The margin on the futures position is approximately 20 per cent of the contract value. The minimum order size is 1,400 units. No alternative strategies are available, as options on the stock are not actively traded.

Orchid Chemicals: The June futures contract closed at 317. The outlook may turn negative if it trades below 316. The downside target range is 302-300.

Sell June futures after it trades below 316. Initiate the position with a protective stop at 322. Trail the stop to control the upside risk. The margin on the futures position is approximately 16 per cent of the contract value. The minimum order size is 700 units. Option-based strategies are not available, as puts and calls on this stock are not actively traded.

PNB: The June futures contract closed at 383. The outlook appears negative. The downside target range is 370-367.

Sell June futures. Initiate the position with a protective stop at 390. Trail the stop to control the upside risk. The margin on the futures position is approximately 16 per cent of the contract value. The minimum order size is 1,200 units. No alternative strategies are available, as options on the stock are not actively traded.

(The opinion expressed in this column is based on technical analysis. There is risk of loss in trading)

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