Derivative Strategy pick on Apollo Tyres by Devarsh Vakil & Nandish Shah - PCG Desk, HDFC Securities: Buy Apollo Tyres December 270 call at Rs 2.8 Stop loss- Rs 1.50 Target - Rs 5.50 Rationale: We have seen long positions being built in Apollo Tyre futures today where we have seen open interest addition of 3% with price rise of 2%. During the current December series also, we have seen long build up where open interest rising by 25% with price moving up by 6% After taking strong support around 200 dma, Stock price has given breakout on the daily chart by closing above 260 levels. Tyre as a sector doing well since last few days and trend is likely to continue. Momentum Indicators and oscillators are Indicating strength in the stock Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
Derivative Strategy pick on Apollo Tyres by HDFC Securities
Derivative Strategy pick on Apollo Tyres by Devarsh Vakil & Nandish Shah - PCG Desk, HDFC Securities: