 "Derivative strategy on Divi's Lab by HDFC Securities")
Derivative strategy on Divi's Lab by Nandish Shah, Senior Technical & Derivatives Analyst at HDFC Securities
Buy Divi's Lab JANUARY Future at Rs 1525
Stop loss: Rs 1,505
Target: Rs 1,555
Rationale:
-- The long build-up is seen in Divi's Lab Futures’ yesterday where we have seen Rise in Open Interest with a price rise of 3%.
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-- The stock price has given a breakout on the daily chart by closing above the 1495 level on the daily charts.
-- Divi’s Lab is trading above its 5,20 and 200 day SMA, Indicating bullish trend for the short to medium term.
-- The stock price is making bullish higher top higher bottom formation on the daily charts since June 2017.
-- Momentum Indicators and Oscillators are also Indicating strength in the stock for the short to medium term.
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