I have open long positions in L&T February futures at around Rs1,498. Since the expiry is drawing near, should I roll over my position to the next cycle or book a loss ahead of the Budget?
— Ramesh Kalra
I think it would be better you wait for now and watch the trend on Monday and Tuesday, before taking a call on roll over. I think you will be able to meet your purchase cost. Since there is a lot of uncertainty attached to Budget, it is always better to take least risk before Budget and take informed call following the Budget. However, if you are not averse to taking risk, then you may roll over to the next cycle.
Should I invest in the follow on offer of the Rural Electrification Corp? Please advice.
No. I think the issue is fairly priced but the chances of appreciation from current levels post offer are not very high. You may get better opportunities, wait for them.