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Derivative Strategy on Pidilite Industries by HDFC Securities

Momentum Indicators and oscillators are suggesting strength in the stock

Devarsh Vakil & Nandish Shah  |  Mumbai 

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

CMP – Rs 831
- Rs 820
- Rs 850
 
Rationale:
 
1. We have seen long positions being built in Pidite futures today where open interest rises by around 18% with higher future volumes.
 
2. Stock price has given breakout on the daily chart by closing above the downward sloping trend line resistance of 825 levels.
 
3. Momentum Indicators and oscillators are suggesting strength in the stock. 
 
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

First Published: Mon, August 28 2017. 08:02 IST
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