Can I short Trent futures at current market price?

Saravanan Na 

Trent (₹4,101.30): The stock has been in a steady downtrend since October 2024. But since early April, the price has been on the rise. It posted a gain of nearly 26 per cent last month. However, this is likely to be only a corrective rally, as the resistance at ₹4,470 holds well. The 23.6 per cent Fibonacci retracement level of the downtrend coincides at ₹4,470, making it a significant barrier. As long as this resistance holds, the bias will be bearish.

For Trent futures (May) (₹4,105.90), the resistance is at ₹4,500. That said, the price action shows that the contract has a support ahead at ₹4,000. 

Given that the overall trend is bearish and that the corrective rally is capped by a barrier, there is a good chance for Trent futures to breach the support at ₹4,000 and drop to ₹3,500 in the near term. 

If you have high risk tolerance, you can short Trent futures now at ₹4,105 and place stop-loss at ₹4,550. When the contract slips to ₹3,750, revise the stop-loss to ₹3,900. Book profits at ₹3,500. 

In case you like to play it safe, short Trent futures after it breaks down below the support at ₹4,000. Target and stop-loss can be ₹3,500 and ₹4,250, respectively.

I’m holding long position on June expiry SBIN 1000-call. Suggest me target and stop-loss levels.

A K Suriya 

SBIN (₹963.20): After witnessing a sharp downtrend, the stock has been consolidating over the past few sessions. While this indicates that the bear trend is losing momentum, the nearest notable support is at ₹945. So, there could be further decline before a recovery, if any.

Even if there is a bullish reversal, only a clear breakout of ₹985 will be a reliable indication of a sustainable rally.

Given the prevailing chart set up, we suggest exiting the call option. You may go long once the stock breaks out of ₹985. In this scenario, the price can see a quick rise to ₹1,020 and ₹1,040.

Send your queries to derivatives@thehindu.co.in

Published on May 16, 2026