I have a long position in Jindal Steel October futures bought for ₹1,054. Should I hold or exit? – Palani Shanmugam
Jindal Steel (₹1,007.60): The stock has been in an uptrend since April and it has steadily been forming higher highs and higher lows. But over the past couple of weeks, the price dropped.
Nevertheless, currently trading at ₹1,007, the stock is hovering near a strong trendline support at ₹995. This trendline connects the prior lows which had triggered rallies.
Therefore, at the current market price, the likelihood of a rally is high. A rebound again from the trendline support can lift the stock to ₹1,100 in the near term. Consequently, the futures contract will also rise.
Hence, we suggest holding the long position. But place a stop-loss at ₹985. Because if Jindal Steel futures breaches the support at ₹995, it can lead to a deeper fall where the contract can touch ₹950.
When the futures rises to ₹1,050, revise the stop-loss to ₹1,020. Tighten the stop-loss to ₹1,060 when the stock touches ₹1,080. Book profits at ₹1,100.
Is the outlook for Max Healthcare bullish? If I buy futures, what can be the target and stop-loss? – Nikhil K
Max Healthcare Institute (₹1,202.70): The stock has rallied over the past couple of weeks. Importantly, this has resulted in the breakout of the resistance at ₹1,185. Also, the price is now above the 50-day moving average.
So yes, the outlook turned positive last week. We expect the stock to touch ₹1,280 in the near term. So, the October futures can also rise to ₹1,280 as the contract is trading almost equal to the spot price.
Given the above factors, buy October futures if the price slips to ₹1,190 so that you can achieve a better risk-reward ratio. Place stop-loss at ₹1,160. When the contract moves up to ₹1,250, trail the stop-loss to ₹1,210. On a rally to ₹1,270, tighten the stop-loss further to ₹1,250. Book profits at ₹1,280.
In case the October contract expires before the target is reached, you can consider rolling over the longs to November series.
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Published on October 18, 2025
