Hyundai Motor India (HMIL) (₹1,913.60) is ruling at a crucial level. Immediate resistance levels are at ₹1,990 and ₹2,177. A close above the latter will turn the outlook positive. Nearest supports are ₹1,844 and ₹1,783.As long as the stock remains above ₹1,691, the long-term bullish outlook will stay. However, in the short term, we expect the stock to decline.F&O pointers: HMIL June futures closed at ₹1,929 and July futures at ₹1,931 against the spot price of ₹1,913.60. The June contracts also shed open positions in the last few days, capturing the cautiousness of traders. Option trading indicates that the stock could move between ₹1,800 and ₹2,120.Strategy: Go short on HMIL futures with stop-loss at ₹1,940. Shift the stop-loss to ₹1,920 if the stock opens on a flat or negative note. Traders can aim for an initial target of ₹1,905. Traders with higher risk tolerance can aim for ₹1,895. This strategy is only for traders who can understand the risk in futures and can meet margin obligations comfortably. For lower risk, traders can buy 1900-put that closed with a premium of ₹51.05. As the market lot is 275 shares, this strategy would cost traders ₹14,038.75, which would be the maximum loss. While initial stop loss can be ₹45, this can be shifted to ₹51 if the stock opens flat or negative. Target can be ₹60. Follow-up: Trade recommendation on Ashok Leyland hit the target.Note: The recommendations are based on technical analysis and F&O positions. There is a risk of loss in tradingPublished on June 6, 2026