Business Standard

Derivative Strategy on NMDC by HDFC Securities

Derivative Strategy on NMDC by Devarsh Vakil & Nandish Shah - PCG Desk at HDFC Securities

Devarsh Vakil & Nandish Shah  |  Mumbai 

Infosys ends market's winning run; IT giant sees highest fall in 2 years

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

Buy Sept Future at 137.4

Stop loss of Rs 134

Target Rs 143

Rationale:

  • We have seen long positions being built in futures today where their open interest rose by over 5%.
  •  has recently raised its product prices by over 8%
  • Momentum Indicators and oscillators are Indicating strength in the stocks
  • Metal as a sector is outperforming since last many months where Nifty Metal Index is trading at six years high

First Published: Fri, September 08 2017. 08:21 IST
RECOMMENDED FOR YOU