 "Derivative strategy from HDFC Securities: Buy Britannia September Futures")
Buy Britannia September Future at Rs 2,673
Stop Loss of Rs 2,630
Target: Rs 2,750
Lot Size: 200
Rationale:
- Accumulation of Long build up is seen in the Britannia Futures’ in the September series till now, where we have rise in open interest (OI) with price consolidation;
- Stock has formed bullish hammer pattern on the weekly charts for the week ending August 23;
- It is consolidating near 50-day simple moving average (SMA) after sharp rise during the fag-end of August; &
- Oscillators and Momentum indicators like RSI and MACD showing strength in the stock on the daily and weekly charts.
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%