I’m planning to buy Persistent Systems futures for April expiry. Do you recommend buying now? – Saravanan Na 

Persistent Systems (₹5,446.50): A month ago, the stock rebounded on the back of the support at ₹4,500. The price has risen above both 21- and 50-day moving averages and the scrip is now comfortably trading above ₹5,250, a potential support. Hence, there is a bullish bias.

That said, there is also a key barrier ahead at ₹5,620, where the 200-day moving average coincides. While this is not a sign that the trend can turn bearish, given that the stock has seen a sharp rise recently, there is a very good chance for it to consolidate between ₹5,250 and ₹5,620 in the near term before establishing its next move.

The April futures of Persistent Systems too have the same key price points of ₹5,250 and ₹5,620 as support and resistance respectively.

So, we suggest waiting for the futures to break out of the resistance at ₹5,620 before buying. Once there is a breakout, you may go long with stop-loss at ₹5,400 for a target of ₹6,000. After initiating the trade, when the contract rises to ₹5,850, revise the stop-loss to ₹5,700.

I have a short position on BSE April futures. Shall I exit now or hold? – Palani Shanmugam

BSE (₹3,531.50): The stock has surged over 30 per cent so far this month. The chart shows that the momentum is strong and also, there are no signs of a reversal. While there is a possibility for a corrective decline to ₹3,300, given the strength of the uptrend, it might not happen. Or the correction might come after the stock rises further.

As the stock is now trading at record highs, there are no historical resistance levels that we can refer to.

Given that the overall trend is up and since there is visibly no sign of a trend reversal, we suggest liquidating the short position. In fact, if there is a correction in price, you can consider going long on the stock of BSE.

It is always advisable to have an exit plan in the form of stop-loss so that losses beyond a point can be arrested.

Send your queries to derivatives@thehindu.co.in

Published on April 18, 2026