ALSO READDerivative Strategy on Container Corp by HDFC Securities Derivative Strategy on Bharat Forge by HDFC Securities Derivative Strategy on Torrent Power by HDFC Securities Derivative strategy on Reliance Industries by Motilal Oswal Securities Buy Pidilite Industries and Asian Pains, says Religare Securities
Stop loss - Rs 820
Target - Rs 850
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.