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Derivative Strategy on Mahindra & Mahindra by HDFC Securities

Derivative Strategy on Mahindra & Mahindra by Devarsh Vakil & Nandish Shah - PCG Desk, HDFC Securities:

Devarsh Vakil & Nandish Shah  |  New Delhi 

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on by Devarsh Vakil & Nandish Shah - PCG Desk, HDFC Securities: Buy Mahindra and Mahindra(M&M) December 1440 call at Rs 23 Stop loss: Rs 17 Target: Rs 35 Rationale: We have seen long positions being built in M&M futures today where we have seen open interest addition of over 10% with price rise of 1.3%. For the month of November, M&M reported better monthly numbers where sales grew by 18%, while tractor sales grew by 32% Short term moving averages are trading above long term moving averages indicating positive trend Momentum Indicators and oscillators are Indicating strength in the stock Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

First Published: Fri, December 15 2017. 08:38 IST
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