 "Derivative strategy on Siemens by HDFC Securities")
Buy SIEMENS APRIL 1100 CALL at Rs 42
TARGET: Rs 60
STOP LOSS: Rs 33
Rationale:
- The long build-up is seen in the Siemens Futures’ yesterday where we have seen a rise in Open Interest with the price rising by 2 per cent.
- The stock price gave a breakout on the daily chart by closing above the resistance of Rs 1,075 to close at eleven month high.
- The stock is trading above its 5,20 and 200-day SMA Indicating stock is in an uptrend for the short to medium term.
- Momentum indicators and Oscillators like RSI and MACD are showing strength in the stock.
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Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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