 "Bull spread strategy on HCL Tech by Nandish Shah of HDFC Securities")
Buy HCL TECH JUNE 980 CALL at Rs 18.5 & simultaneously sell 1010 CALL at Rs 7.50
Lot Size: 700
Cost of the strategy: Rs 11 (Rs 7,700 per strategy)
Maximum profit: Rs 13,300, if HCL Tech closes at or above 810 on 24 June expiry.
Breakeven point: Rs 991
Rationale:
Also Read
-- We have seen long build-up in the HCL Tech Futures till now during the June series, where we have seen 5 per cent rise in the Open Interest with price rising by 0.6 per cent.
-- Stock price has broken out on the daily line chart with higher volumes.
-- Plus DI is trading above Minus DI while ADX line is placed above 25, indicating momentum in the current uptrend.
-- Oscillators like RSI and MFI are placed above 60 and slopping upwards, indicating strength in the current uptrend.
Disclaimer: Nandish Shah is Technical Research Analyst at HDFC Securities. He doesn't hold any position in the stock. Views are personal.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%