I have a long position on State Bank of India futures bought for ₹1,068. What is the outlook for the stock? Should I hold or exit the trade?

Pradeep Kabra, Mumbai 

State Bank of India (₹1,000.50): After failing to breach the barrier at ₹1,120 in early August, the stock started to fall. It depreciated for four weeks straight and is down 1.5 per cent so far this week.

Importantly, the stock has now slipped below the support at ₹1,015. Although ₹1,000 can offer support, a rise, if any, will most likely be capped at ₹1,030, a resistance.

An eventual decline below ₹1,000 can drag the underlying stock price to ₹950 in the short run.

The above factors indicate that the September futures of State Bank of India, which is now trading at ₹1,005, is likely to see a decline to ₹950-960 price band. In case there is an uptick from the current level, it might move to ₹1,035. However, a rally beyond this is unlikely and the contract can resume the downtrend.

Therefore, we suggest exiting the trade at the current level. Alternatively, since the stock and the futures is now hovering near a potential support, you may hold the futures long but with a strict stop-loss at ₹990. Exit the trade once the contract rallies to ₹1,030. 

So, overall, given the current chart set up, you can possibly cut the losses but turning this trade profitable is less probable.

What is the outlook for Trent? Do you recommend buying call option or futures?

Saravanan Na  

Trent (₹2,802.40): The stock has been in a steady downtrend for more than a month now. Also, the broader trend is also bearish. Therefore, as it stands, the chances for the price to drop to the nearest support at ₹2,680 is high. 

In case there is a recovery from ₹2,680, the scrip will face resistance at ₹2,840 and ₹3,000. But in case the support at ₹2,680 is breached, the stock can see a deeper decline, probably to ₹2,500.

Considering the above factors, we do not recommend buying a call option now. You may consider buying after the stock falls to ₹2,680 and sustains above this. 

Send your queries to derivatives@thehindu.co.in

Published on September 10, 2026