Bank of India - This counter has been recommended in the morning call newsletter since it gave a breakout above the 60 levels and has been in the money. This counter has been a favourite among the traders and investors alike. Having made a new high, the scrip is in a low resistance zone and is likely to appreciate further. The oscillators are supporting an upmove and buying is recommended.

Your call of action -

• Investors / cash segment players - Delivery based buying is recommended at the 60 - 62 levels and a stop-loss be maintained at the 57 levels. Expect a profit target of 72 in the near term in a firm market.

• Aggressive F&O traders - Buy the October futures at the 64 levels and hold with a stop-loss at the 60 levels. Expect profit taking at the 69 levels. Options players can buy the Oct calls at a strike price of 70 at a premium of Re 1.

• Fixed income strategy - Sell oct puts at a strike price of Rs 50 at a premium not below Re. 0.30

• Derivatives contract size - 3800 shares. F&O margins Approx Rs 1,10,000 ( Margins are subject to change daily )