ALSO READDerivative Strategy on Bharat Forge by HDFC Securities Derivative Strategy on Torrent Power by HDFC Securities Derivative strategy on Tata Motors by Motilal Oswal Securities Derivative strategy on Reliance Industries by Motilal Oswal Securities Option Strategy on Hindalco by Motilal Oswal Securities
Stop loss - Rs 1,220
Target - Rs 1,290
1. We have seen long positions being built in Concor Futures in last two days(Wednesday and Thursday) where Open interest rising by more than 10% with price moving by 6% during the same period.
2. Stock price has given breakout on the daily and weekly chart yesterday where it managed to close above the crucial resistance level of 1220 with higher volumes.
3. Momentum Indicators and oscillators are Indicating strength in the stock.
4. It has reported strong quarterly result on 31 July.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.