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Derivative Strategy pick on Apollo Tyres by HDFC Securities

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

Devarsh Vakil & Nandish Shah  |  New Delhi 

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pick on by Devarsh Vakil & Nandish Shah - PCG Desk, HDFC Securities: Buy December 270 call at Rs 2.8 Stop loss- Rs 1.50 - 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.

First Published: Fri, December 22 2017. 08:20 IST
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