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Derivatives strategy on Ujjivan Finance by HDFC Securities

Derivatives call on Ujjivan Finance futures by Nandish Shah, Technical & Derivatives Analyst, HDFC Securities.

Nandish Shah  |  Mumbai 

Markets, Buy, Sell, Stocks
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Derivatives call on futures by Nandish Shah, Technical & Derivatives Analyst, HDFC Securities:

Buy May Future at Rs 407

of Rs 398

Rs 425

Rationale: We have seen Long positions being built in futures’ today where we have seen 14% Rise in Open Interest with a Price rise of 2%.

After a small correction during the last few days, It resumed its uptrend again today where Stock price closed above 5 and 20-day Simple moving averages with higher volumes

Oscillators like RSI and KST is showing strength in the stock for the short to medium term.

NBFC as a sector is doing well and looking good for the short term.

Disclaimer: The analyst may have positions in the stock mentioned above.

First Published: Fri, May 18 2018. 06:30 IST
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