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Derivative Strategy on Bharat Forge by HDFC Securities

Higher rollover seen by the stock to the August series with the positive cost of carry

Devarsh Vakil & Nandish Shah  |  Mumbai 

growth, investment, income, dividend, mutual fund, finance

Derivative Strategy on by Devarsh Vakil & Nandish Shah - PCG Desk, HDFC securities:
 
August Future – BUY

 
– Rs 1,142
- Rs 1,120
- Rs 1,180
 
Rationale:
 
futures open interest currently stands at three month high. This higher open interest coupled with the rise in price indicates accumulation of long positions by the strong hands.
 
We have seen higher rollover to the August series with the positive cost of carry. Stock is making higher top higher bottom formation on the charts.
 
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

First Published: Fri, July 28 2017. 08:22 IST
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