Derivative strategy for Oil India, Arvind from Geojit BNP Paribas

Here's derivative strategy for Oil India and Arvind from Geojit BNP Paribas in trade today:

OIL INDIA FUT
LTP: Rs 328.9
Action: BUY
Targets: Rs 334 / Rs 338.5

Stop-loss: Rs 321

Comment: Momentum indicators are showing continuation of uptrend. Broken above the trendline resistance of Rs 325. Volumes have moved above 10D average. Rollover is currently near the 3-month average and the rollover cost is positive and has moved above the last two month level.

ARVIND FUT
LTP: Rs 291.15
Action: BUY
Targets: Rs 295.4 / Rs 298
Stop-loss: Rs 284.5

Comment: Momentum indicators are showing continuation of uptrend. Broken above the trendline resistance of Rs 280. MACD has moved above the signal lilne and the zero line. Volumes have moved above 10D average. Rollover is currently below the 3-month average and is expected to pick as the rollover cost is showing signs bullishness.

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