Akhil Nallamuthu
Business Line
Tamil Nadu, India
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Past articles by Akhil:
NCDEX-Guar seed: Go short now and at ₹5,750
Outlook turns bearish with the futures contract breaching a key support → Read More
F&O Query: Should I hold Nifty call option?
Price action indicates that the index could trade sideways → Read More
Should you subscribe to Sovereign Gold Bonds?
The issue price is fixed at ₹5,611 per gram of gold. Those who apply online will get a discount of ₹50 per gram and thus, the cost will be ₹5,561. → Read More
Weekly Rupee View: Sideways trend set to stay
However, the FOMC meeting minutes might trigger some movement → Read More
Natural gas: Downtrend losing momentum
Natural gas futures contract has entered consolidation phase → Read More
Today’s Pick: Cummins India (₹1630): BUY
The stock of Cummins India confirmed an ascending triangle pattern last week. While this pattern indicates bullish continuation struggled a bit to breach ₹1,615 for the past few weeks. However, on Wednesday, it gathered enough strength and broke out of ₹1,615. Thus, Cummins India can be considered for fresh long positions, especially for intraday on Thursday. So, traders can go long in this… → Read More
Sell lead futures
Over the past month, the lead futures on the Multi Commodity Exchange (MCX) have seen a decline. The February futures closed at ₹185 yesterday compared to ₹192 a month ago, losing 3.6 per cent which is considerable given that this metal has been trading with very low volatility for more than a year. We expect the contract to fall further from here. The nearest support is at ₹180 with the… → Read More
Go long on guar seed futures
The guar seed futures contract on NCDEX is testing a support → Read More
Bullion Cues: Bearish week ahead
Gold was largely flat last week. In terms of dollars, spot gold closed $1,864.3 an ounce on Friday compared with $1,865.5 by the end of the preceding week. On the Multi Commodity Exchange (MCX), gold futures (April expiry) closed at ₹56,741 (per 10 gram) – 0.3 per cent higher than the previous week’s close of ₹56,585. Silver underperformed gold as expected. In dollar terms, the spot silver lost… → Read More
MCX-Zinc: Go long now
The zinc future on the Multi Commodity Exchange (MCX) is on a downtrend for the past couple of weeks. It fell off the resistance at ₹300 and is now trading around ₹278. For the contract, ₹272 is a good support as a rising trendline coincides with this at this level. So, there is a good chance for the contract to see a bounce. It could retest the resistance at ₹300 again in the near-term. On the… → Read More
Today’s Pick: LIC (₹610.1): BUY
The stock of Life Insurance Corporation (LIC) bounced off the support at ₹585 last week. While it ha → Read More
F&O Query: Should you hold Call options on Vedanta?
I’ve bought 5 lots of 337.50-strike call options on Vedanta Limited for ₹5.25. Can I hold it up to e → Read More
MCX copper: Buy when price falls to ₹760
The overall trend remains bullish; corrective decline to be arrested at ₹760 → Read More
Today’s Pick: Rajesh Exports (₹892): BUY
The stock of Rajesh Exports has been trading in the range of ₹830 and ₹880 for nearly three weeks. But on Thursday, it rallied beyond the range top and closed above the same, opening the door for further appreciation. Looking at the price action on the daily chart, it will most probably rally on Friday. So, traders can consider the stock of Rajesh Exports for intraday longs. We suggest buying at… → Read More
F&O Query: Should I hold Tata Motors call option?
I had bought February expiry 470-strike call option on Tata Motors for ₹3.75 for February expiry. Should I hold till budget? What is your suggestion and target? – Anish Technically, your decision to hold the call option is correct as the stock of Tata Motors (₹443.65) breached a key hurdle at ₹440 last week. Despite heightened volatility on Monday, the stock was able to stay above ₹440. While… → Read More
Today’s Pick: TVS Motor (₹1,037.9): BUY
With the breach of ₹1,000-mark, the bounce is likely to be extended to ₹1,070 or even to ₹1,100 on Friday. → Read More
Zinc futures: Go long now
The contract might extend the rally; but there might be a minor dip → Read More
F&O Query: Can I hold long straddle on Nifty 50?
I have opened long-term option positions. I’ve bought one1 lot each of 18000CE and 18000PE of 30th M → Read More
Stocks that will see action this week
Here is what the charts say about the shares of Atul, Deepak Nitrite and LIC Housing Finance → Read More
F&O Query: Should you hold or exit Canara Bank put options?
I’m holding 2 lots of 300-strike put options on Canara Bank at ₹2.55. I need your advice on whether → Read More