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Derivative Strategy on IDFC by HDFC Securities

Momentum Indicators and oscillators are Indicating strength in the stocks

Devarsh Vakil & Nandish Shah  |  New Delhi 

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Derivative Strategy on by Devarsh Vakil & Nandish Shah - PCG Desk at HDFC Securities:
 
Buy Sept Future at Rs 61.5

- Rs 60.
- Rs 65
 
Rationale:
1.      We have seen long positions being built in futures today where their open interest rose by 5%.
2.      It has given breakout on the daily chart by closing above the crucial resistance level of 61 with higher volumes. Momentum Indicators and oscillators are Indicating strength in the stock.
3.      In the option segment, 62.5 call added over 12 lakh shares (40% rise in open interest), suggesting higher possibility of sharp price rise from here.
4.      Momentum Indicators and oscillators are Indicating strength in the stocks

First Published: Fri, September 15 2017. 08:04 IST
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